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Tag: Chainlink

  • Chainlink crashes below $14 as Bitcoin slumps to $95K, altcoin market bleeds heavily

    Chainlink crashes below $14 as Bitcoin slumps to $95K, altcoin market bleeds heavily

    ethere Price Bearish

    • Chainlink price fell by double digits to below $14 on Friday, losses that came amid broader market turmoil.
    • LINK’s dump aligned with the sharp dip for Bitcoin to under $96,000.
    • Further losses could see Chainlink price plunge towards $10.

    The cryptocurrency market is reeling under intense bearish pressure, with Chainlink (LINK) price plummeting below the $14 mark alongside huge dips for Bitcoin, Ethereum, and Solana.

    Bitcoin’s drop below $96,000, with bears touching $95,860, fueled losses for ETH and SOL, which fell 10% each to new multi-month lows.

    The selling pressure triggered a cascade effect, dragging other altcoins like Cardano and Chainlink into the red.

    LINK is at risk of registering a deeper rout.

    Chainlink dips below $15

    Chainlink (LINK) price is among the top coins to suffer a dramatic fall as Bitcoin’s crash to a six-month low below $96,000 slammed sentiment hard.

    LINK traded at $14.08 as of the early US market session on Friday, down 11% in the last 24 hours. According to CoinMarketCap data, the double-digit loss extends the altcoin’s plunge in recent days to 25% in the past month.

    When considering the week’s cumulative decline, bulls are sharply down since hitting a recent high of $19.12.

    The altcoin’s market cap now stands at $9.76 billion, while daily volume has spiked 43% to nearly $1.2 billion to highlight the intensified market activity.

    Bitcoin plummets as bears crash bulls

    As highlighted, Chainlink price fell sharply amid a bearish onslaught that intensified with BTC’s sudden dip.

    While cryptocurrencies had dumped on Wednesday as investor concern around macroeconomic and geopolitical turbulence mounted, alts’ decline accelerated as fake news about Strategy selling BTC surfaced.

    Posts that Michael Saylor was selling bitcoin appeared to relate to redistribution in wallets and not selling.

    Analysts like Miles Deutscher were quick to point out the fake news, and onchain data analytics platform Lookonchain shared the details below.

    However, as Bitcoin dumped amid the initial selling, Chainlink followed suit. 

    The token’s price action mirrored the market’s fear sentiment, hitting lows last seen in April. Indeed, Chainlink’s plunge below $14 allowed bears to revisit lows of $13.90.

    The alt may be hovering around the $14 mark as bulls eye a rebound, but losses threaten increased bleeding towards the all-important $10 mark.

    Despite the dip, Chainlink price remains bullish long term, with factors such as macroeconomic tailwinds, regulatory shifts and partnerships key catalysts.

    There is also the buzz around spot exchange-traded funds, which are gathering release pace with a spot XRP ETF launching in the US this week.

    LINK could also benefit from the Chainlink Reserve initiative, which added over 74,049 LINK tokens this week to bring the total haul to over 803,387 LINK.

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  • Chainlink price forecast as key metrics point to increased onchain activity

    Chainlink price forecast as key metrics point to increased onchain activity

    Chainlink Price Outlook

    • Chainlink price broke to highs $26 before correcting slightly.
    • LINK is surging amid a spike in onchain activity.
    • Partnerships and adoption trends remain bullish for Chainlink.

    Chainlink (LINK) broke above $26 for the first time in months on Monday, surging amid a notable spike in onchain activity.

    As LINK pares gains amid broader profit taking, analysts are saying the recent explosion of key network metrics could allow bulls to breach the supply wall at $30 as they target the all-time high of $52 seen over four years ago.

    Chainlink sees significant surge in onchain activity

    According to Santiment, Chainlink’s onchain activity has witnessed a significant spike in the past week.

    For instance, on Sunday, August 17, a total of 9,813 unique LINK addresses executed at least one transaction, while the next day saw more than 9,625 new LINK wallets.

    Per the onchain analytics provider, both metrics represent the blockchain network’s highest levels for the year.

    “Onchain activity has been even more impressive than the price,” Santiment analysts noted.

    Partnerships and LINK reserve

    Recently, Visa’s head of crypto, Cuy Sheffield, explained via Visa’s Tokenized podcast, that Chainlink is a major pull for institutional entry into crypto.

    Apart from Visa, Chainlink has partnered with ANZ, China AMC, and Fidelity International to bring cross-chain, cross-border settlements to tokenized assets across Australia and Hong Kong.

    A Mastercard partnership is also huge for LINK.

    Chainlink Data Streams is another solution seeing huge integration. Data Streams are now live for U.S. equities and exchange-traded funds such as AAPL, NVDA and CRCL.

    Chainlink also recently partnered with Intercontinental Exchange, the parent company of the New York Stock Exchange.

    “Using ICE’s Consolidated Feed data as an input into Chainlink’s derived FX and precious metals rates onchain via Chainlink’s institutional-grade infrastructure is a watershed moment in the evolution of global markets,” said Fernando Vazquez, president of capital markets at Chainlink Labs. “This collaboration signals a pivotal shift towards a unified, globally accessible onchain financial system, with hundreds of trillions in assets on a clear path to tokenization.”

    Chainlink Reserve, an effort launched to support Chainlink’s traction in the DeFi and TradFi ecosystems, is also a major boost.

    As well as being geared towards establishing Chainlink as a standard solution for global crypto adoption, the program bolsters its tokenized assets growth.

    What’s next for LINK price?

    Chainlink’s price action amid the surge in network activity suggests bulls are confident in LINK.

    Chainlink price chart

    Having broken above $20 and strengthened to $26, Chainlink is showing resilience. While bears have a say on immediate LINK price action, analysts say the altcoin could be on the cusp of a significant breakout.

    While the key metrics indicate that Chainlink’s network growth is outpacing price gains, there are more bulls who are upbeat about.

    A confluence of catalysts such as network integration across decentralized and traditional finance, whale accumulation and macro conditions, is what could propel LINK toward its ATH and into price discovery mode.

    LINK traded at the all-time high above $52 in May 2021, a level bulls may target if market conditions align. Currently, the altcoin is on an uptrend since hitting lows of $16 on Aug. 6.

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  • Chainlink price: LINK eyes new leg up amid ICE collaboration

    Chainlink price: LINK eyes new leg up amid ICE collaboration

    Chainlink Price ICE Partnership

    • Chainlink price traded around $21.47 on Aug. 11, 2% down from highs of $22.55 in 24 hours. 
    • Ethereum led top altcoins like Bitcoin Cash and BNB higher as it crossed above $4,300.
    • Chainlink’s partnership with  Intercontinental Exchange could be a key catalyst.

    Chainlink (LINK) price has retreated 2% in the past 24 hours to trade around $21.47, slightly off its multi-week highs of $22.55.

    This bucks the uptick for Bitcoin and top altcoins such as Ethereum, Bitcoin Cash and BNB. LayerZero also rose.

    However, as the market digests the potential impact of its latest partnership with Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), could Chainlink price embark on a new leg up to target the all-time high above $52?

    Chainlink joins forces with NYSE parent ICE

    The Chainlink ecosystem witnessed a major unveiling recently when the oracle networks platform launch Chainlink Data Streams for US stocks and ETFs. Traction for the solution has netted a major partnership as Chainlink collaborates with ICE.

    According to a press release, the integration brings high-quality forex and precious metals rates from ICE’s consolidated feed to Chainlink’s Data Streams.

    In short, ICE’s Consolidated Feed, which aggregates data from more than 300 global exchanges and marketplaces, has added FX and precious metals rates to the Chainlink Data Streams.

    The move allows for the use of the solution to power over 2,000 applications, banks, asset managers, and infrastructure providers across the Chainlink ecosystem.

    Benefits include growth in network activity – particularly in tokenized assets and products.

    Leveraging ICE’s institutional-grade infrastructure means Chainlink adds to its traction in bridging traditional markets and the DeFi ecosystem.

    “Using ICE’s Consolidated Feed data as an input into Chainlink’s derived FX and precious metals rates onchain via Chainlink’s institutional-grade infrastructure is a watershed moment in the evolution of global markets,” said Fernando Vazquez, president, capital markets at Chainlink Labs. “This collaboration signals a pivotal shift towards a unified, globally accessible onchain financial system, with hundreds of trillions in assets on a clear path to tokenization.”

    LINK price outlook: Is Chainlink poised to mirror ETH?

    Ethereum (ETH), which continues to experience significant price gains amid key institutional demand and treasury interest, trades near $4,300.

    The ETH price gain has helped other altcoins higher, hitting highs of $4,363 as Bitcoin Cash, Uniswap, Monero, and BNB rose.

    LINK showed similar movement as it rose sharply from lows of $15.60 this past week.

    Bulls are signalling resilience with the price above $21, with technical outlook suggesting they could see a new leg up.

    The ICE partnership among other integrations, point to real traction and a break to $30 could see Chainlink price target $50 and the altcoin’s all-time high above $52.

    If LINK mirrors ETH’s trajectory, it might see a steady climb supported by growing tokenized real-world asset (RWA) markets. On the downside, LINK’s main support areas would be around $20 and $16.

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  • Chainlink price jumps 11% amid major Mastercard partnership

    Chainlink price jumps 11% amid major Mastercard partnership

    Chainlink Partners With Chainlink

    • Chainlink and Mastercard are collaborating to enable over 3 billion cardholders to buy crypto onchain
    • LINK rose 11% amid the Mastercard partnership and broader crypto optimism
    • Chainlink’s growth in the tokenised assets market continues.

    Chainlink’s native token, LINK, soared 11% today, buoyed by a groundbreaking partnership with Mastercard.

    While gains mirrored broader crypto market upside, the news that Chainlink and Mastercard are looking to bring direct crypto purchases to over 3 billion cardholders added to the upbeat sentiment around LINK.

    Chainlink and Mastercard partner

    As with many other similar collaborations, this one between Chainlink and Mastercard marks a significant step toward mainstream adoption of decentralised finance (DeFi).

    The two companies said in a press release that their integration looks to bridge traditional finance with blockchain technology. Chainlink’s infrastructure will play a pivotal role in this transformative integration.

    Other than leveraging Chainlink’s interoperability protocol and data standards, the partnership will also tap into key platforms and protocols, including zerohash, Shift4 Payments, and XSwap.

    “There’s no doubt about it – people want to be able to easily connect to the digital assets ecosystem, and vice versa. That’s why we continue to leverage our proven expertise and global payments network to bridge the gap between onchain commerce and offchain transactions,” said Raj Dhamodharan, executive vice president, Blockchain & Digital Assets at Mastercard. “In coming together with Chainlink, we’re unlocking a secure and innovative way to revolutionise onchain commerce and drive the broader adoption of crypto assets.”

    LINK price gains

    As noted, Chainlink’s price experienced a robust 11% surge in 24 hours, climbing from a low of $11.48. This aligned with crypto’s bounce on Israel-Iran ceasefire news and also reflected strong market enthusiasm for the Mastercard partnership.

    As of writing, LINK was trading at $13.07, with bulls looking to break towards $20.

    The partnership’s announcement and broader market tailwinds, including the recently passed GENIUS Act, could catalyse gains.

    Indeed, Chainlink co-founder Sergey Nazarov recently noted that the US stablecoin law could boost LINK adoption by supporting stablecoin innovation.

    “This is the type of traditional finance and decentralised finance convergence that Chainlink was built to make possible,” Nazarov noted. “I’m excited about Chainlink’s ability to enable this critical connection between the traditional payments world and the over three billion cardholders in the Mastercard user base, directly into the next generation trading environments of onchain decentralised exchanges.”

    Solutions like Chainlink’s Cross-Chain Interoperability Protocol (CCIP) and proof-of-reserve technology are seen as critical for tokenised assets, and could potentially drive LINK price higher.
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  • 2024 a significant year with Bitcoin’s 4th halving; promising outlook for Chainlink & Rebel Satoshi (RBLZ)

    2024 a significant year with Bitcoin’s 4th halving; promising outlook for Chainlink & Rebel Satoshi (RBLZ)

    As the crypto world eagerly anticipates the year 2024, it holds a promise marked by a significant event – Bitcoin’s fourth halving. This phenomenon, coupled with optimistic forecasts for cryptocurrencies like Chainlink and Rebel Satoshi ($RBLZ), is poised to shape the landscape of the digital asset realm. 

    In this article, we delve into the potential implications of Bitcoin’s impending halving and explore the promising outlook for two noteworthy top altcoins.

    Bitcoin’s fourth halving: a defining moment

    Bitcoin, the pioneer of cryptocurrencies, operates on a unique economic model with a fixed supply capped at 21 million coins. The halving event, which occurs approximately every four years, involves a 50% reduction in the reward that miners receive for validating transactions. 

    With more than 19 million bitcoins already mined, the fourth halving will further tighten the supply, bringing the total number of bitcoins ever to be mined closer to its 21 million limit.

    The halving effect on Bitcoin price

    Historically, Bitcoin halving events have triggered significant price movements. While the first halving in 2012 had a negligible effect, subsequent occurrences in 2016 and 2020 witnessed substantial price surges. 

    As we approach the expected 2024 halving, the crypto community remains vigilant for potential market dynamics. Analysts often observe increased price volatility before and after halving events, presenting both challenges and opportunities for traders and investors.

    Chainlink’s promising trajectory

    Amidst the anticipation surrounding Bitcoin, top altcoins like Chainlink have been gaining attention for their unique value propositions. Chainlink, a decentralized oracle network, has established itself as a crucial player in bridging smart contracts with real-world data. The project’s versatile use cases, including decentralized finance (DeFi) applications, have contributed to its widespread adoption.

    As of recent market analysis, Chainlink’s price appears to be in an accumulation phase, indicating a potential upcoming bullish trend. Technical indicators such as the Awesome Oscillator, Moving Average Convergence Divergence (MACD), and Relative Strength Index (RSI) suggest a favourable environment for Chainlink’s price to experience an upward trajectory. 

    With key support levels and resistance zones in focus, traders are eyeing the $16.000 mark as a potential milestone for LINK.

    Rebel Satoshi (RBLZ): a new player in the crypto arena

    In the diverse landscape of cryptocurrencies, Rebel Satoshi (RBLZ) emerges as a notable contender, especially as it garners attention during its presale phase. Having already sold over 100 million RBLZ tokens and raised $1.5 million, the Rebel Satoshi presale is on the brink of reaching the $2 million milestone. Built on the Ethereum network, renowned for its security, Rebel Satoshi stands out as a compelling investment option.

    The smart contracts governing Rebel Satoshi have undergone rigorous auditing by Source Hat, a leading auditing firm. This ensures the safety and reliability of the Rebel Satoshi ecosystem. This is one of the reasons why Rebel Satoshi is regarded as the best meme coin. As the presale progresses, investors are urged to consider the potential of Rebel Satoshi, not just as a meme coin but as a project backed by robust technology and a dedicated community.

    Investment recommendation

    In light of the upcoming Bitcoin halving and the promising trajectories of altcoins like Chainlink and Rebel Satoshi, investors are presented with unique opportunities. While Bitcoin’s halving may contribute to market-wide dynamics, strategic investments in altcoins with solid fundamentals can potentially yield significant returns.

    As we look ahead to 2024, the crypto space continues to evolve, offering a dynamic environment for enthusiasts and investors alike. Whether one chooses to ride the waves of Bitcoin’s halving or explore the potential of innovative altcoins, staying informed and vigilant in the ever-changing crypto landscape remains paramount.

    Final Thoughts

    The year 2024 unfolds with the promise of being a transformative period in the crypto realm. Bitcoin’s fourth halving stands as a key event, influencing market sentiments and potential price movements. In parallel, top altcoins like Chainlink and Rebel Satoshi showcase their unique value propositions, inviting investors to explore diverse opportunities. 

    As the crypto journey progresses, strategic decision-making and a forward-looking approach become essential for those seeking to navigate the exciting and ever-evolving world of digital assets.

    For the latest updates and more information, visit the official Rebel Satoshi Presale Website or contact Rebel Red via Telegram.

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  • Back to basics for Chainlink. Bulls have to defend $6 before a further crash happens.

    Back to basics for Chainlink. Bulls have to defend $6 before a further crash happens.

    • Chainlink traded at $6 on Monday, stabilising at the crucial support

    • LINK buyers have always defended $6 against the onslaught of bears

    • LINK could fall further if a break in the crucial support happens

    The start of Chainlink staking ignited an interest in the native token LINK. The cryptocurrency was on an uptrend in the last two weeks of November, ahead of the crucial milestone in early December. But as the early access kicked off, LINK has failed to register gains. Instead, the token has succumbed to the bear market. Bulls are battling $6, as the price now faces a brutal collapse if bears win. But will this happen?

    Chainlink price outlook and analysis

    $6 is an important price level for Chainlink. Past price action shows that bulls have defended this crucial level since June. The level has been tested severally, offering clues that LINK could overcome a further slump.

    Nonetheless, there is no price action signal to support a recovery up to this point. From the daily chart below, multiple inside bars are forming at the crucial level, underlying indecision in the market. Since this happens in a bear market, it signals the exit of sellers or the entry of buyers.

    LINK/USD Chart by TradingView

    From a technical outlook, LINK trades below the 20-day and 50-day moving averages. The moving averages have almost been flat, indicating that LINK is better considered to be in an extended consolidation. The cryptocurrency is recovering slightly, although the RSI signals that bears remain in control.

    Will Chainlink recover?

    The next price action will shape the direction of Chainlink. LINK price has stabilised at $6, but the bear pressure is still on. If the cryptocurrency loses this support, a lower price of around $5.4 will remain in sight.

    Where to buy LINK

    eToro

    eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.


    Buy LINK with eToro today

    Bitstamp

    Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.

    Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.


    Buy LINK with Bitstamp today

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