CHAINLINK price, news and Forecast (LINK US DOLLAR)
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XRP consolidates above key support as exchange reserves rise
Ripple (XRP) trades elevated above $1.52 on Tuesday despite experiencing a minor correction from the previous day’s high of $1.57. XRP framed the uptrend last week, rising alongside the broader bullish cryptocurrency market.
Crypto Today: Bitcoin, Ethereum, XRP rally slows amid rising ETF inflows
The cryptocurrency market remains elevated on Tuesday, with Bitcoin trading around $85,798, nearly 49% above the year low of $57,756. Ethereum and Ripple trade within a robust bullish outlook above $2,700 and $1.51, respectively.
Pi Network pulls back despite Protocol v27 completing final testnet step
Pi Network is trading in the red on Tuesday, retreating from the day’s high of $0.0947 and risking a steeper correction. The upcoming protocol v27 completes its final step on the testnet, after which the smart contract feature will roll out to the mainnet.
Bitcoin pauses rally as profit-taking reaches yearly high
Bitcoin pulls back, trading below $85,500 on Tuesday after surging 6.7% and reaching $87,395 the previous day. US-listed spot Bitcoin ETFs recorded nearly $1 billion in inflows on Monday, while Strategy added 950 BTC to its treasury holdings.
Bitcoin: BTC shrugs off CLARITY Act setback and hawkish Fed
Bitcoin (BTC) price action has remained resilient this week, trading above $78,000 at the time of writing on Friday, heading toward a key resistance zone. Institutional demand shows early signs of weakness, with spot Exchange Traded Funds (ETFs) on track for a second straight week of outflows, with over $420 million recorded through Thursday amid escalating Middle East tensions.
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WHAT IS CHAINLINK?
Chainlink is a decentralized oracle network that greatly expands the capabilities of smart contracts by enabling access to real-world data and off-chain computation while maintaining the security and reliability guarantees inherent to blockchain technology.
LINK tokens are the digital assets used to pay for services on the network.
Characteristics of Chainlink
Chainlink main objective was creating a blockchain that allows users to connect with real world data.
- Chainlink makes it possible for users to work with off-chain data.
- It offers the possibility of making payments through a contract to any payment system or banking network.
- Its users can use smart contracts which includes an oracle reputation called a service level agreement. It punishes the oracles that violate network rules or provide incorrect data.
- Uses an aggregation contract to collect all the off-chain oracles’ data to create a weighted aggregate response.
Differences between Chainlink and Bitcoin
Which are the main differences betweeen LINK and BTC?
- LINK demand and value of the tokens is directly correlated to the number of operators that offer off-chain services to the system.
- The LINK token is described by developers as an ERC-20 token, with the additional ERC-223 “transfer and call” functionality.
- The LINK token sale was capped at $32 million, with a total supply of 1 billion LINK tokens.