A popular crypto trader is eyeing possible price increases for a trio of crypto assets as the markets head into summer. Crypto strategist Michaël van de Poppe tells his 608,100 Twitter followers the recent Bitcoin (BTC) bounce back from a price dip could mean that both BTC and altcoins are primed to go on a […]
The post Altcoins Gearing Up To Potentially Double in Price As Bitcoin Relief Rally Ensues, Says Crypto Analyst appeared first on The Daily Hodl.
Roadmap and protocol upgrades are a few of the factors behind the month-long rally in LINK, OCEAN and HNT.
Positive price movements during bear markets are noteworthy primarily because they can help identify projects that have a good chance of surviving until the next bull cycle .
Generally, price action in June has been stagnant for a majority of the crypto market because traders are nervous about Bitcoin's (BTC) oscillation around the $30,000 support level, but there have been a few strong performers.
Data from Cointelegraph Markets Pro and TradingView shows that three of the biggest gainers in the month of June have been Chainlink (LINK), Ocean Protocol (OCEAN) and Helium (HNT).
The Chainlink protocol is the most widely adopted oracle network in the cryptocurrency ecosystem which allows blockchains to securely interact with external data feeds for the proper functioning of smart contracts.
Earlier this week, the project revealed a roadmap for the first time and indicated that LINK staking would launch soon. The NewsQuakes™ alert system from Cointelegraph Markets Pro managed to capture the staking announcement for LINK on June 7, prior to the recent price rise.
As seen in the chart above, following the NewsQuakes™ alert for LINK which was registered at noon on June 7, the price of LINK proceeded to increase by 29.55% over the next two days.
Ocean Protocol's native OCEAN token also was a strong performer this week and data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $0.1965 on June 3, the price of OCEAN has rallied 64.53% to hit a daily high at $0.3233 on June 9.
The climbing price of OCEAN comes after the release of the Ocean ONDA v4 data marketplace which debuted the release of data NFTs that can be used to model the copyright or exclusive license for a data asset.
Along with the introduction of data NFTS, the protocol has also introduced Ocean data framing which enables token holders to stake their OCEAN tokens and earn up to 125% APY.
Related: Chainlink brings Keepers and VRF to the Avalanche blockchain
Helium protocol is a 5G Internet-of-Things-focused project supporting low-powered wireless devices to communicate with each other and send data across its network of nodes.
Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $6.35 on May 29, the price of HNT has surged 79.14% to hit a daily high of $12.28 on June 9 as its 24-hour trading volume spiked 249% to $126.7 million.
HNT's breakout occurred as the Helium community voted on HIP-51, a proposal that covered the economic and technical constructions needed to scale the Helium Network to support new users, devices and different types of networks including cellular, VPN, WiFi and LPWAN.
Voters ultimately approved the proposal on June 8, with 96.94% of voters approving the transition to making Helium a “network of networks.”
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
Despite the crypto market trading lower today, Tezos and LINK both rose to one-month highs on Thursday. XTZ was up by 8.5% during today’s session, whilst LINK rose by nearly 9% in the day. Overall, the global crypto market cap is down 0.55% as of writing. Chainlink (LINK) LINK continued its recent run on Thursday, […]
Decentralized oracle network Chainlink (LINK) is surging after the release of a new roadmap for its future. According to a new blog post, the project’s long-term goals revolve around the introduction of staking to the protocol, which aims to increase the blockchain’s security, increase participation in the community, create sustainable rewards, and empower node operators. […]
The post Chainlink (LINK) Bounces Nearly 25% After Release of New Long Term Roadmap appeared first on The Daily Hodl.
LINK remained close to a one-month high earlier in today’s session, as crypto markets shook off some of Tuesday’s volatile moves. Although price volatility remained, bulls returned to show force, with ADA continuing to climb higher this week. Chainlink (LINK) LINK was trading around a one-month high during today’s session, following a recent four-day bull […]
LINK price broke its downtrend and rallied to $9 after the developers released a roadmap and announced that Chainlink 2.0 includes token staking.
Passive income opportunities are one of the biggest draws in the cryptocurrency ecosystem because it gives investors an easy opportunity to grow their portfolio size regardless of the day-to-day price action.
The latest token to get a bump in its price after announcing the upcoming implementation of staking is Chainlink (LINK), the decentralized oracle network that provides important off-chain information needed for the proper functioning of smart contracts.
Data from Cointelegraph Markets Pro and TradingView shows that since bouncing off a low of $6.67 on June 4, the price of LINK has increased 35% to hit a daily high of $9.00 on June 7.
Here’s a look at what the new developments in the Chainlink ecosystem that could be backing today's price rally.
The ability to stake LINK has been a sought-after capability for several years now because Chainlink has consistently been the largest oracle project in the entire cryptocurrency ecosystem.
Staking marks the start of #Chainlink Economics 2.0, a new era for the long-term security and sustainability of oracle networks.
— Chainlink (@chainlink) June 7, 2022
In this update, we define the long-term goals, roadmap, and initial implementation of staking in the Chainlink Network.https://t.co/WJkoUzPA0i
According to the announcement released by Chainlink, the overarching goal of staking on the network “is to give ecosystem participants, including node operators and community members, the ability to increase the security guarantees and user assurances of oracle services by backing them with staked LINK tokens.”
By staking LINK, the ability for nodes to receive jobs and earn fees on the Chainlink network will be enhanced while the ecosystem as a whole will benefit from an “increase in cryptoeconomic security and user assurances.”
Staking not only introduces an incentive to provide reliable data, but it allows for a penalty mechanism for underperforming nodes who fail to achieve the goal of consistently generating accurate oracle reports and delivering them to specific destinations in a timely manner.
Another benefit of introducing staking is that it will help encourage a larger amount of the Chainlink community to get directly involved with the network by staking LINK to support the performance of oracle networks.
Getting more individuals involved with community monitoring directly helps to increase the decentralization of the Chainlink network and enables “a robust reputation system and slashing mechanism.”
The addition of staking is also expected to increase network adoption over time as new sources of rewards and an increase in the amount of protocol fees that are generated from non-emission-based sources further attracts more participants.
Related: Chainlink launches price feeds on Solana to provide data to DeFi developers
The new roadmap also introduces Chainlink Proof of Reserves (PoR).
#Chainlink Proof of Reserve (PoR) enables #DeFi projects to verify off-chain and cross-chain asset reserves through automated audits based on cryptographic truth.
— Chainlink (@chainlink) June 6, 2022
Learn how PoR helps secure cross-chain assets, stablecoins, wrapped tokens, and more https://t.co/qZRj7oExsz
With PoR, the cryptocurrency holdings of a company can be easily audited through an automated process that leverages the transparency of blockchains, smart contracts and oracles.
This real-time auditing of collateral helps to ensure that user funds are protected from “unforeseen fractional reserve practices and other fraudulent activity from off-chain custodians.” In doing so, PoR helps to bring a higher degree of transparency to the crypto ecosystem as a whole and it addresses some of the biggest complaints about how the current financial system operates.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
Popular strategist Michaël van de Poppe is analyzing four leading altcoins as the crypto market continues to range. Starting with the native token of decentralized applications blockchain Avalanche (AVAX), Van de Poppe tells his 606,600 Twitter followers that AVAX is exhibiting signs of bullish divergence on the daily chart. The crypto strategist says AVAX could […]
The post Ethereum Rival Flashing Bullish Signal While Chainlink Showcases Rare Opportunity: Crypto Strategist appeared first on The Daily Hodl.
Crypto analytics firm Santiment is digging into the charts to produce granular insights about a trio of altcoins. Santiment first highlights decentralized blockchain platform Cardano (ADA) as seeing an impressive price increase while also noting that development activity on GitHub has surged to over 450 submissions per day. “Cardano is one of many altcoins that […]
The post Cardano Ignites Notable Bounce As ADA Development Activity Surges to New All-Time High: Analytics Firm appeared first on The Daily Hodl.
