Key Takeaways:
- Chainlink adoption grows. A new partnership with Polytrade announced on Oct. 4.
- The oracle Network also partnered with Leonicorn.
- The native token LINK did not react and consolidated at $26.6.
YEREVAN (CoinChapter.com) – LINK, the native token of oracle network Chainlink continued to consolidate despite two new collaborations. Chainlink partnered with invoice financing platform Polytrade and will help solve cash flow problems that SMEs (small and medium enterprises) face. The oracle network also collaborated with decentralized exchange (DEX) Leonicorn Swap to provide the latter with a “tamper-proof source of randomness”.
New partnerships for Chainlink
The oracle Network announced the collaboration with Polytrade on Oct. 4. The latter will use Chainlink price feeds as a part of their blockchain-based lending solution. The accurate stablecoin price data will enable Polytrade to calculate the value of real-world invoices by SMEs.
Polytrade is a transparent and secure blockchain platform that offers a new asset class for crypto holders to finance real-world invoices from world-class buyers like Walmart, IKEA, and more — all backed by credit insurance.
read the announcement.
The Leonicorn announcement came on Oct. 5 and stated, that the platform seeks to access a “verifiably tamper-proof source of randomness” for their lucky draw games and surprise NFT loot boxes. The DEX specified that they chose Chainlink, because it’s the most time-tested oracle infrastructure out there.
Mofassair Hossain the CEO of Leonicorn Swap commented on the collaboration and noted his positive outlook on the further aspects of the partnership.
“Chainlink VRF was the best and more proven solution to bring fairness and transparency to our NFT loot boxes and lucky draw games. It was seamless to integrate and offloaded work from our development team.”
added the executive.
Also read: Chainlink scores a new collaboration as LINK struggles to get past $24
Meanwhile LINK…
…seemed unimpressed by Chainlink’s growing adoption and consolidated at $26.6 in the New York session Tuesday.
Michael Van de Poppe, a crypto analyst with an extensive following, and the CEO of consultancy and education platform Eight Global presented his review of Chainlink’s performance. He asserted that oracle networks, in general, could see an uptrend due to their growing adoption.
In the analyst’s view, the altcoin is ready to establish new highs. He indicated the possible support levels on the LINK/BTC chart and outlined the price movements. Moreover, Mr. Van de Poppe stated, that the digital asset is at a good “entry-level”, and if the prediction pans out, LINK will go higher and grant yields.
Also read: Chainlink’s growing adoption and Bitcoin’s recovery sent LINK up 15%
