Chainlink’s New Partnerships
Chainlink has recently formed strategic partnerships that have caught the attention of crypto whales and sparked a buying frenzy. This surge in activity reflects growing confidence in Chainlink’s long-term potential and its expanding ecosystem.
SingularityDAO Collaboration
SingularityDAO, a decentralized platform known for AI-enhanced crypto asset management, has joined forces with Chainlink Labs to support Chainlink BUILD members. This collaboration will provide expanded opportunities through SingularityDAO’s launchpad, incubation services, and other innovative avenues. Startups in Chainlink’s BUILD program will benefit from SingularityDAO’s mentorship, training sessions, and incubation services, helping them move forward in their projects.
Redacted Integration of Chainlink CCIP
Redacted, a builder of DeFi products, has integrated Chainlink CCIP for cross-chain transfers of Pirex ETH (pxETH). This integration showcases Chainlink’s growing influence in the Web3 space. Redacted chose Chainlink CCIP for its high security and reliability standards, which are crucial in the volatile cryptocurrency market. The integration aims to make pxETH accessible across various blockchains for cross-chain interoperability.
“We’re excited to integrate the industry-leading Chainlink CCIP to help power secure cross-chain transfers of our liquid staking token, pxETH. As it’s underpinned by Chainlink’s battle-tested infrastructure and features a future-proof design, selecting CCIP as our exclusive cross-chain solution was an easy choice,” said Redacted Co-Founder Sami.
Whales Accumulate LINK
The market has responded positively to these developments, as evidenced by substantial acquisitions of LINK tokens by a whale or institution. Over 1.2 million LINK tokens were recently moved from Binance, according to insights from Lookonchain. Despite broader market fluctuations, Chainlink’s price has remained relatively stable around $13. BeInCrypto Global Head of News, Ali Martinez, sees this stability as a potential buy signal and predicts a significant price surge for Chainlink.
“The TD Sequential presents a buy signal on the 12-hour chart as LINK trades around the lower boundary of a parallel channel. If validated, LINK could rebound toward $15.2 or $17.3,” Martinez said.
Hot Take: Chainlink Gains Momentum with New Partnerships and Whales Accumulating
Chainlink’s recent strategic partnerships with SingularityDAO and Redacted have generated excitement in the crypto community, leading to increased buying activity by crypto whales. These collaborations offer expanded opportunities for startups in Chainlink’s ecosystem and highlight the platform’s growing influence in the Web3 space. Additionally, the accumulation of LINK tokens by institutional investors indicates growing confidence in Chainlink’s long-term potential. Despite market fluctuations, Chainlink’s price has remained stable, prompting predictions of a significant price surge. With its expanding ecosystem and support from crypto whales, Chainlink continues to gain momentum in the cryptocurrency market.
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