These Are Reasons Behind Chainlink’s LINK Token Surge During the Past Month
Chainlink (LINK) is a top 40 virtual currency in the market that has experienced a very positive month. This digital currency is also a blockchain oracle network that is attracting the attention of several investors.
Most of the digital currencies in the market are in a bear trend since November 2018. However, after December 10 last year, LINK has experienced a price increase of over 66%. During these months, this cryptocurrency was one of the best-performing assets in the market.
In order to understand why Chainlink increased in price in this way when most of the other coins were falling is important to see the partnerships that it was able to sign. Chainlink will be providing custom blockchain oracle solutions to firms such as ETHA, Mobilum, and STK.
In a Medium post released by STK Token, they inform that they will be integrating Chainlink and their services into STK’s smart contract projects.
“Chainlink’s decentralized oracle network provides a secure solution that can easily connect STK smart contracts to APIs and send payments from our smart contacts to bank accounts,”
the company wrote.
At the same time, Chainlink has also partnered with another blockchain platform known as Wanchain (WAN). Wanchain connects and allows users to exchange value among a wide range of blockchain ledgers. This integration with Chainlink provides off-chain information, APIs, payment gateways and more data.
In the future, the oracles created by Chainlink could eventually be used on the Wanchain network. This would allow developers to have access to data that would not be available while developing decentralized applications (dApps).
At the time of writing this article, Chainlink is the 37th largest digital asset in the space. It has a market capitalization of $131 million and each LINK can be purchased for $0.374. Chainlink has a bigger market capitalization that coins such as Bitcoin Diamond (BCD), Verge (XVG) or Nano, among others.