It has been a big week for Chainlink (LINK). The coin rose in ranks to become the 12th largest in the world by market cap, while also steadily increasing adoption of its price feeds on multiple network platforms. Let’s do a deep dive.
OpenOcean Brings Limit Order Functionality With Chainlink Integration
Earlier this week, full aggression protocol OpenOcean announced that it would integrate Chainlink Price Feeds on their platform for limit order functionality on Ethereum, Binance Smart Chain, Polygon. The functionality will allow traders to place buy or sell orders for any asset at their desired price that will automatically get executed only if the conditions specified are met.
Chainlink’s high-quality data, secure node operators, decentralized network, and robust reputation system informed the choice made by OpenOceen to incorporate the Chainlink Price Feeds. Co-founder of OpenOcean, Cindy Wu spoke on the integration,
“We’re happy to integrate Chainlink Price Feeds and enable limit orders for our users. As a trader myself, I understand the frustration of having to sit in front of the computer and monitor prices in order to get the desired outcome from a swap. With Chainlink Price Feeds, we now have a solution for limit orders on swaps that is cost-effective, reliable, and secure.”
Chainlink Oracle Network Live On Optimism
Another Chainlink integration that happened this week was on Optimistic Ethereum. After consistent demands from the latter’s community, developers can now rely on a complete decentralized oracle network. In addition, the Chainlink price feeds are used for on-chain actions such as loan collateralization or setting binary options at expiry.
Chainlink Co-founder, Sergey Nazarov spoke on the integration,
“With Chainlink oracle networks natively integrated on Optimism, developers can leverage the most decentralized and secure off-chain services for building advanced hybrid smart contracts.”
Jing Wang, who is the CEO and Co-founder of Optimistic Ethereum, also voiced his opinions on the integration,
“Chainlink Price Feeds provide Optimistic developers with a seamless plug-n-play solution for getting high-quality data and time-tested oracles within their DeFi applications.”
Dfyn Inaugurates Prediction Market With Chainlink Price Feeds
Dfyn Network recently announced that they have opted to integrate the Chainlink Price Feeds on the Polygon mainnet as its go-to oracle solution. The network has started with the MATIC/USD Price Feed as a secure and reliable source of price data to settle the predictions market. In the press release issued by Dfyn Network, the team credited the decision to Chainlink’s premium quality data, robust backend infrastructure, and flexible custom feed creation. The team also announced plans to incorporate additional prediction markets secured by Chainlink Price Feeds, including LUNA, DFYN, and ROUTE.
Chainlink Joins Gitcoin Grants Round 11
In an announcement this week, Chainlink also notified the community of its decision to join the upcoming Gitcoin Grants Round 11 as a matching partner to contribute to the Ethereum infrastructure development via Gitcoin’s quadratic funding model. According to the press release, the decision was part of Chainlink’s continuing effort to provide extensive resources to blockchains and smart contract developers. Team Chainlink has undertaken similar initiatives in the past, like joining previous Gitcoin Grant rounds, initiating bug bounty programs, and sponsoring hackathons.
Chainlink (LINK) Hits $15B Market Cap
With a sharp 12% price hike in the last 24 hours, LINK crossed the market cap of $15 billion today, for the first time since May 2021. This sudden climb puts it at a valuation higher than that of Bitcoin Cash, Litecoin, Terra, Filecoin, and Polygon, making it the 12th largest digital asset in the world.
Crypto behavior analysis company, Santiment pointed out the steady climb shown by Chainlink in the market,
“Chainlink’s market value is up 119% in the past six weeks and gained another 12% in the past 24 hours. The rate of notable GitHub submissions from the LINK developers has been undeniably rising rapidly over time.”