Chainlink supports reliable applications and high-integrity markets in numerous sectors, such as banking, DeFi, global trade, and gaming.
Over the past two weeks, Chainlink (LINK) has experienced negative exchange net flows, with approximately $110 million worth being withdrawn from exchanges. This trend indicates that investors are moving their holdings into long-term storage, suggesting an accumulation phase. Investors likely have growing confidence in the token’s future potential. Moving LINK off exchanges can reduce short-term selling pressure, which might lead to price increases if demand remains strong.
Exchange netflows for $LINK have been negative for the past two weeks, with roughly $110 million worth of $LINK being withdrawn from exchanges during this period.
Such activity is typically associated with an accumulation phase, indicating that investors are moving $LINK off… pic.twitter.com/jSvKAkUQ5F
— IntoTheBlock (@intotheblock) July 12, 2024
Chainlink is a leading decentralized platform in the Oracle sector. It securely transfers data between public and private blockchains and off-chain systems, facilitating interoperability among them. In the blockchain field, oracles are essential software that brings external data into a blockchain ecosystem, as these systems do not natively have the tools to do so.
Chainlink Integration Boosts Decentralized Platforms
Chainlink powers verifiable applications and high-integrity markets across various sectors, including banking, DeFi, global trade, gaming, and more. It has dominated the Oracle sector for years, enabling transactions worth over $12 trillion. Chainlink provides financial institutions, startups, and developers with on-chain access to real-world data, off-chain processing, and cross-chain interoperability on virtually any blockchain. This allows developers to create complex smart contracts that can use information from outside their platform.
Interport Finance, a cross-chain trading platform, announced its participation in the Chainlink BUILD program to enhance its ecosystem with Oracle services and technical support. This partnership aims to drive innovation and adoption across decentralized finance. Co-founder DSB expressed enthusiasm, stating, “We’re excited to join Chainlink BUILD, which will give us advanced access to Chainlink’s industry-leading platform and help accelerate the growth of Interport Finance.”
Excited to join the #ChainlinkBUILD community! As part of Build, we’re driving ecosystem growth and enhancing our cross-chain tools with @chainlink’s technology. #LinkTheWorld
Read More: https://t.co/KCVI8cQf7B
— Interport Finance (@InterportFi) July 11, 2024
In other news, Starknet, a permissionless Validity-Rollup on Ethereum leveraging ZK-STARK technology, has announced the integration of Chainlink Data Feeds on its mainnet. This strategic partnership aims to enhance Starknet’s development landscape by providing a rich, low-cost data environment for creating decentralized applications (dApps) and increasingly complex and secure smart contracts.
As a layer-2 solution for Ethereum, Starknet focuses on overcoming the scalability limits of Ethereum’s layer-1 while ensuring computational integrity. The integration of Chainlink Data Feeds offers developers additional support in building scalable and secure DeFi applications on Starknet, accelerating the growth of its ecosystem. With the addition of Chainlink Data Feeds, developers on Starknet will have access to reliable and decentralized data, further bolstering the platform’s capabilities.
