Chainlink

<p>Chainlink (LINK), the leading decentralized oracle network, has seen a major resurgence in interest and price action recently. Here’s a look at what’s driving the renewed hype around this top crypto project.</p>
<p>Chainlink finally broke out of its slump in explosive fashion this past week. The LINK token surged over 30% after busting through stubborn multi-month trendline resistance around the $9 level.</p>
<p>According to crypto educators <a href="https://twitter.com/CryptoBusy/status/1716366805034266633?t=w54WWbaY1LslQCVBrn6SCQ&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">CryptoBusy</a>, Chainlink’s price action was fueled by a confluence of bullish factors. Large whales accumulated nearly $40 million worth of LINK tokens in the span of one week. At the same time, Chainlink announced integrations with seven different blockchain networks including Ethereum, Avalanche, and Binance Smart Chain.</p>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="616" src="https://captainaltcoin.com/wp-content/uploads/2023/10/image-608-1024x616.png" alt="" class="wp-image-362432" srcset="https://captainaltcoin.com/wp-content/uploads/2023/10/image-608-1024x616.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-608-300x180.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-608-766x461.png 766w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-608-1536x924.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-608-2048x1232.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-608-249x150.png 249w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-608-100x60.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-608-582x350.png 582w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-608-788x473.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-608.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>This expanding integration across chains has solidified Chainlink’s status as the go-to decentralized oracle solution in the crypto industry. Decentralized oracles allow blockchains to securely interact with real-world data, which is essential for powering smart contracts and Web3 applications.</p>
<p>Chainlink remains in high demand as the broader decentralized finance (DeFi) and non-fungible token (NFT) sectors regain strength amid the renewed crypto bull market. Top research firm K33 Research dubbed it the “safest bet” for capitalizing on real-world asset (RWA) adoption.</p>
<p>After more than doubling from July lows, LINK faces stiff overhead resistance around the $11 level – its all-time high from 2021. Analysts say a decisive break above this could trigger an even more parabolic move upwards. For now, the oracle leader appears poised to continue outpacing the overall crypto market.</p>
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<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/why-chainlink-is-the-safest-bet-as-defi-and-nfts-come-roaring-back-report/">Why Chainlink is the ‘Safest Bet’ as DeFi and NFTs Come Roaring Back – Report</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Why Chainlink is the ‘Safest Bet’ as DeFi and NFTs Come Roaring Back – Report

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