One of those coins making all front page news in the decentralized finance world , the defi  project is chainlink. Its coin LINK amassed a large group of enthusiastic followers, including celebrities, industry experts, and tech futurists. Altcoin has grown rapidly and is one of the top-ranked cryptocurrencies by market capitalization. 

Here’s Chainlink Sentiment 

On December 28, the global crypto market capitalisation dipped to $2.34 trillion from $2.39 trillion the day before, although trading volume surged to $86.55 billion from $75.03 billion.

Stablecoins’ market capitalization has declined 0.06 percent to $ 162.25 billion in the last 24 hours. Stablecoins are a type of cryptocurrency whose value is linked to an external asset, such as the US dollar or any other fiat currency or gold, in order to maintain price stability.

Cardano soared to a new three-week high of $$1.31 , but was quickly rejected, causing it to plummet by a few dollars. Other altcoins are also in the red, with Ethereum dropping below $4,000 for the first time and XRP soars 

Chain Link price soars

In the early hours of the week, Chainlink’s native token LINK crossed the $23 mark. This comes as the crowd’s negative feeling about the asset has been at an all-time high since October.

Since the local low of $17.33 on December 15th, Chainlink’s token, LINK, has gained some positive traction. Despite a negative market attitude against LINK since October, the token has seen favourable action in the last two weeks, according to data from market analysts Santiment.

At the time of writing, the number 18 cryptocurrency by market size is trading at $23.37, just above the important $23 threshold and up nearly 26% since the local bottom twelve days ago.

Why is LINK becoming more popular?

Eric Schmidt, the former CEO of Google, joined Chainlink as a strategic advisor earlier this month, which could be one of three reasons for the current uptick. According to a press release, Chainlink and the Internet-of-Things blockchain IoTeX partnered earlier this month to “enhance real-world connectivity and empower innovators to develop their ideas and solve intricate challenges that were difficult to tackle before.”

Finally,  Chainlink Price Feeds integration has been announced by Lido, an Ethereum-based liquid staking solution. Lido allows its customers to stake ether on the Ethereum 2.0 Proof-of-Commit chain without having to stake the full 32 ether (ETH) that the protocol requires.

Since ATH, LINK has dropped by half.

LINK hit an all-time high of $52.70 on May 10th this year, but has since dropped 55.7 percent.

Chainlink, the most popular blockchain data oracle, offers off-chain data to on-chain services, which is a valuable service for blockchains that can’t get data from outside the blockchain otherwise. Oracles collect data from a number of sources in a more or less decentralised fashion, such as real-time price feeds from exchanges, and give APIs for developers to incorporate data feeds into on-chain decentralised apps.

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