CHAINLINK price, news and Forecast (LINK US DOLLAR)
Technical overview
Big picture
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Pepe bears eyes for double-digit correction
Pepe (PEPE) continues to decline and trades below $0.000015 at the time of writing on Tuesday after correcting more than 22% since Saturday. The technical outlook suggests further correction ahead as momentum indicators show signs of weakness.
Bitcoin fails to sustain the $109K mark after Trump’s inauguration
Bitcoin price holds above the $100K mark on Tuesday after reaching a new all-time high of $109,588 the previous day. Santiment’s data shows that BTC prices quickly corrected, as social media showed major greed and FOMO after Trump’s inauguration.
Three reasons why AAVE could rally in upcoming days
Aave (AAVE) price hovers around $340 on Tuesday after rallying 9% the previous day. On Monday, the Ethereum Foundation allocated 50,000 ETH worth $165 million starting first with Aave, marking an endorsement of the protocol.
Ripple's XRP jumps 5% as Trump taps pro-crypto Mark Uyeda as acting SEC Chair
Ripple is up 5% on Monday after US President Donald Trump announced pro-crypto Mark Uyeda as the new acting SEC Chair. The announcement follows increased buying activity across XRP spot market and investment products.
Bitcoin: BTC rallies above $102,000 ahead of Trump’s inauguration
BTC's price continues to trade in the green, trading above $102,000 at the time of writing on Friday after rallying more than 7% this week. Recent US macroeconomic data released this week supported the rise of risky assets like BTC.
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XRP
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.
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