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Cryptocurrency

Chainlink: Most valuable DeFi crypto is attracting investors again, gains over 8%

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Chainlink: Most valuable DeFi crypto is attracting investors again, gains over 8%

The most valuable DeFI based crypto is catching the eyes of investors, once again.

Shortly after Chainlink (LINK) plunge in price recorded last week after hitting a record high of about $20, now the price is going back up, gaining over 8% today to trade above the $15 price level.

The $5.3 billion crypto by market capitalization is the fifth most valuable crypto by after Bitcoin, Ethereum, Ripple, and Tether.

READ: Ethereum Whales cumulative holdings touch 10-months high, ETH passes $221

It surged to prominence a few months ago, after it got swept up in the DeFi (decentralized finance) windfall. Crypto traders invested about  $1 billion into its protocols almost every week.

Quick fact: Defi means “decentralized finance”. It is a crypto ecosystem made up of financial apps designed on leading blockchain platforms.

These digital assets are designed on Ethereum codes, and usually exhibit characteristics that include having protocols and financial smart contracts.

READ: OmiseGO, a small digital coin up, 150% in less than 30 days, as Bitcoin fails to break $10,000

Chainlink is a blockchain that is designed to bridge the space between blockchain technology-based smart contracts (created by ETH), and other user programs.

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.

It should also be noted that about a year ago, Chainlink announced that Google was integrating Chainlink into their approach to smart contract adoption on how users could use Chainlink to connect to BigQuery, one of Google’s most popular cloud services.

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Follow Olumide on Twitter @tokunboadesina. He is a Member of the Chartered Financial Analyst Society.

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Cryptocurrency

List of unpopular Cryptos likely to outperform

Tyler Swope has tipped some pretty unknown crypto assets of likely doing very well, amid the recent price correction.

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4 cryptos gain over 400% in a month, far outperforming Bitcoin

Despite the recent consolidation in crypto assets, a top crypto strategist trader, Tyler Swope has tipped some pretty unknown crypto assets of likely doing very well, amid the recent price correction that seems to be pausing the bullish momentum.

The crypto trader told his 201, 000 followers on Youtube that he was recommending decentralized finance (DeFi) platform Bao Finance (BAO).

He went on by giving his bias it on the fact that the unknown crypto asset was making progress while settling down from its initial hype stage;

READ: Crypto: Alpha Finance gains 400% in 10 days, supported by a big bank

“The xDai pools are deployed, a few minor bugs, but as we can see from the Baoman’s mouth: ‘Block rewards were pushed back one more day but the farms are working and stable. User deposits can start now.’ Yes, the crops are ready to be farmed on xDai. They are moving exactly as planned,” Swope said.

The top influencer further hinted that the crypto-asset could be used as collateral for spot trading on the FTX crypto exchange.

The other crypto asset on the experts’ list includes Deus Finance (DEUS), which is created in allowing users to trade conventional investments asset like equities and commodities directly on Ethereum.

“Deus is officially launching its decentralized trading platform in the next 48 hours. You will be able to trade hundreds of stocks, forex, and selected cryptos on xDai without time restriction,” he stated.

READ: Chainlink defying law of gravity, now more valuable than Litecoin

The crypto asset on Swope’s radar is DeFi platform Non-Fungible Yearn (NFY). He recommended the crypto asset taking to account it is expanding the opportunities in the non-fungible tokens (NFTs) subsector by “taking NFTs and applying it to DeFi.”

“They are the first DeFi protocol to utilize NFTs to make yield farming more secure and flexible by protecting the wallet and allowing the first transferable stake. What this does is create an ecosystem where instead of wallet addresses that represent the right to stake, an NFT will represent the right to the staked funds and the yield they generate. You will be able to trade your staked tokens and future yield via an NFT,” he added.

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Cryptocurrency

Football-based Crypto, is world best performing Crypto in 7 days

Chiliz traded at $0.105397 with a daily trading volume of about $589 million.

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A pretty unknown crypto asset, based on arguably the most popular sport has outperformed all major Crypto assets tracked by Nairametrics Week to Week.

At press time, the sport-based Crypto traded at $0.105397 with a daily trading volume of about $589 million. Chiliz is up 97% for the week.

Chiliz is currently ranked the 91st most valuable crypto asset, a market value of $573,581,586 It has a circulating supply of 5,442,094,892 CHZ coins and a maximum supply of 8,888,888,888 CHZ coins

The fast-rising crypto can be traded on the following crypto exchange trading that includes OKEx, HBTC, Binance, Huobi Global, and Xtheta Global.

READ: Red Sunday: Crypto market drops $70 billion in value as Bitcoin, Ethereum, Litcoin tumble

Chiliz, powering Socios.com, aims to give sports and esports fans the ability to crowd-manage their favorite teams, games, leagues, and events.

Football clubs are now using blockchain, to facilitate better experiences for their fans.

Football is by far the most popular game worldwide. The last football World Cup tournament held in Russia 2018, had over 3.5 billion individuals watching the matches. This shows that about half of the world’s population is keen on football.

READ: Big whale makes biggest Bitcoin transfer worth $5.6 billion for just $18

Nairametrics believes such partnerships with these football clubs via blockchain will open more economic opportunities and leverage the wider audience via collaboration with the industry’s global brands.

Socios.com Fan Token partners include Juventus, AS Roma, Galatasaray, FC Barcelona, Atlético de Madrid, Paris Saint-Germain, CA Independiente, Apollon Limassol and esports organizations Team Heretics and OG.

Dozens of more clubs are set to launch Fan Tokens before the end of the year, with many leading IPs from sports and entertainment also primed to join the Socios.com roster in the near future.

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