Projects and goals:
$LINK is one of the pioneering projects in the decentralized oracle space, providing reliable off-chain data for blockchains. This makes it an essential component in the smart contract ecosystem, especially in DeFi and other areas such as insurance, blockchain gaming, and real-world data.
Tokenomics:
Market Cap: With a market capitalization of nearly $14 billion, #Chainlink is among the large projects that the market trusts. Circulating Supply / Total Supply: Currently, 63% of the total supply is circulating. This indicates a relatively stable distribution level. However, 37% has not yet been released, which could affect the price if released irrationally.
Projects and goals:
Chainlink is one of the pioneering projects in the decentralized oracle space, providing reliable off-chain data for blockchains. This makes it an essential component in the smart contract ecosystem, especially in DeFi and other areas such as insurance, blockchain gaming, and real-world data.
Tokenomics:
Market Cap: With a market capitalization of nearly $14 billion, Chainlink is among the large projects that the market trusts. Circulating Supply / Total Supply: Currently, 63% of the total supply is circulating. This indicates a relatively stable distribution level. However, 37% has not yet been released, which could affect the price if released irrationally.
Projects and goals:
Chainlink is one of the pioneering projects in the decentralized oracle space, providing reliable off-chain data for blockchains. This makes it an essential component in the smart contract ecosystem, especially in DeFi and other areas such as insurance, blockchain gaming, and real-world data.
Tokenomics:
Market Cap: With a market capitalization of nearly $14 billion, Chainlink is among the large projects that the market trusts. Circulating Supply / Total Supply: Currently, 63% of the total supply is circulating. This indicates a relatively stable distribution level. However, 37% has not yet been released, which could affect the price if released irrationally.
Technical analysis
Short-term trends:
24h range: Price fluctuations in the range of $21.42 - $22.68 show that Chainlink is stable in the short term. 7-day range: Strong growth from $20.11 to a high of $30.42 before correcting. This may signal a recovery trend if there are no major market fluctuations.
Resistance and support:
Strong support level: $20 (near the week's lowest range). Resistance level: $30 (week's highest). If this threshold is crossed, Chainlink could reach the $35 - $40 mark.
Trading volume:
The 24-hour trading volume exceeded $1 billion, indicating significant interest from the market and high liquidity.
Strengths
Leading position in the Oracle field:
Chainlink is the most pioneering and popular project in the decentralized oracle space. Most major DeFi projects (Aave, Synthetix, etc.) utilize Chainlink to connect off-chain data, creating significant dependence on this system.
Diverse applications:
Chainlink not only provides price data but also extends to many other services such as: Price Feeds: Providing reliable price data for DeFi platforms. Proof of Reserve: Supporting asset verification audits. Verifiable Randomness Function (VRF): Applications in areas such as blockchain gaming. API connectivity: Opening up integration potential with traditional systems.
Strong team and partners:
Built by leading experts in blockchain and technology. Partners include many major projects in the blockchain space, along with support from companies like Google Cloud, SWIFT.
Large ecosystem:
Chainlink has integrated with hundreds of blockchain projects, ensuring a solid position in the market.
Security and reliability:
Chainlink focuses on ensuring that the data provided is accurate and tamper-proof, which is crucial for smart contracts.
Sustainable growth:
Chainlink has maintained steady growth since its launch, with long-term growth in both value and practical applications.
Conclusion
Chainlink is a strong project with a core role in the current blockchain ecosystem.
For the long term: Consider accumulating LINK during strong price corrections and hold if you believe in the development of blockchain and DeFi.
For the short term: Monitor the support and resistance levels closely, along with market developments to make reasonable trading decisions.
#trend $ETH
