In the crypto industry, one crypto asset is emerging as the most profitable crypto asset in 2020 for its investors. The name of that crypto asset is LINK.
The detail: ChainLink (LINK) has gained about 451% in 6 months, moving from $2.12 on March 15, 2020, to $9.57 as at the time this report was drafted. This has made it the ninth most valuable crypto asset by market capitalization value of $3.35 billion.
The recent gain in this fast-growing crypto-asset follows a recent pullback after LINK reached the $8.94 price levels near the middle of July.
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ChainLink is showing signs of life, while Bitcoin and most of the crypto assets are pulling back lately. One thing to keep an eye on is the trading and social volume in relation to its price direction. An increase appears to be starting, which is correlating with this rise.
$LINK is showing signs of life while $BTC and most of #crypto is sliding back slowly. One thing to keep an eye on is trading and social volume in relation to its price direction. An increase appears to be starting, which is correlating with this rise. ? https://t.co/HWdN7q7P9T pic.twitter.com/fabKVlFqFA
— Santiment (@santimentfeed) August 3, 2020
Quick fact: Chainlink is a blockchain that is designed to bridge the space between blockchain technology-based smart contracts (created by ETH), and other user programs.
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Since blockchains by principle can’t have access to data outside their paths or networks, a defi instrument is needed to facilitate data feeds in smart contracts, and Chainlink helps to solve such needs.
Recall that about a year ago, ChainLink announced that Google was integrating ChainLink into their approach to smart contract adoption. Here’s how users can use Chainlink to connect to BigQuery, one of Google’s most popular cloud services.
We're thrilled to share that Google is one of the great companies integrating #Chainlink into their approach to smart contract adoption. Here's how @GCPcloud users can use Chainlink to connect to BigQuery, one of Google's most popular cloud services. https://t.co/TfaGPP5TlS
— Chainlink – Official Channel (@chainlink) June 13, 2019