- Chainlink started a new partnership with the Fleta Connect platform.
- Collaboration with Neuramon further fueled the rally.
- LINK jumped in response and gained 10 percent.
YEREVAN (CoinChapter.com) – LINK, the native token of oracle network Chainlink, rallied over 10 percent in the past 24 hours, while many altcoins continued to consolidate. New collaborations with Fleta Connect and Neuramon fuelled the uptrend. Both Twitter announcements came on September 1.
Fleta Connect and Chainlink
In retrospect, Fleta Connect is a BSC (Binance Smart Chain)-based DeFi service that offers the users to earn staking rewards (Cherry: the network’s governance token). In addition, the platform provides yield/delegate farming, cross-chain converters, and multiple ways to earn increased rewards.
The announcement stated that Fleta Connect would use Chainkink price feeds to obtain high-quality data, secure node operations, and more.
In hindsight, Chainlink accumulates information from various data aggregators and feeds source data from multiple exchanges. The company’s CEO Henry Hong commented on the new collaboration and how it will affect the users.
“Using Chainlink Price Feeds is key to users having accurate, up-to-date information when evaluating vaults, of which has robust protections against manipulation or downtime”stated the executive
He also added that Chainlink price feeds are very easy to integrate and that similar collaborations create “public good to the benefit of the entire DeFi ecosystem.”
The new collaboration with Fleta Connect is not the only positive news in Chainlink’s arsenal.
Partnership with Neuramon
Oracle Network Chainlink scored another unique partnership with Neuramon, a collectible NFT trading card game. The platform integrated Chainlink Verifiable Random Function (VRF) on the Polygon mainnet.
Through the collaboration, Neuramon aimed to gain access to the “auditable source of randomness” needed for the platform to function.
“Ultimately this creates a more exciting, transparent, and fraud-proof user experience, as users can be certain that each Neuramon booster pack is fair”.reads the announcement
…profited from the extended Chainlink adoption and gained over 10 percent in the past 24 hours. The uptrend broke through a significant resistance trendline of the descending triangle pattern. The latter is typically a continuation pattern, but LINK defied the formation and broke out, adopting a bullish bias.
The 20-day exponential moving average (EMA-20; blue wave) capped the bullish attempt for the past week. But on September 1, LINK was able to use it as support. Should the price action continue to ascend, the EMA-20 could shift its trajectory north and continue to assist.