Elrond to integrate oracles to seamlessly access cross-chain and off-chain data

Elrond (ERD) CEO, Beniamin Mincu, recently announced that the scalable blockchain protocol would integrate Decentralized Information Asset (DIA) oracles to access cross-chain and off-chain data. DIA is an open-source blockchain oracles platform that provides market participants with secure and reliable data. DIA aggregates information from both centralized finance (CeFi) and DeFi platforms. DIA users can get seamless access to essential data such as digital asset prices, lending rates, lending states and FX rates. 

As per the announcement, the current data sets on DIA will be available on Elrond after the integration. This new integration will accelerate DeFi growth on Elrond and increase demand for eGLD as an underlying asset.

Mincu added:

DeFi and CeFi solutions depend on trustworthy data to reliably automate their processes and increase efficiency. We’re excited to complement the Elrond high throughput and inexpensive mainnet with the rich data sets provided by the DIA crowd-sourced oracle platforms.

ERD/USDT daily chart

ERD/USDT is trending in a downward channel formation and the price has gone down from 0.0173 to 0.01696. The bears have stayed in control for the second straight day as the price has dipped below the 50-day Simple Moving Average (SMA 50) curve. The RSI is hovering near the oversold zone.

ERD/USDT has strong resistance at 0.017783 (SMA 50), 0.0182, 0.0203 and 0.0208(SMA 50). On the downside, we have two healthy support levels at 0.01595 and 0.0127.