Chainlink Is Going Green; Will LINK Follow?

Chainlink hit the news today following its latest announcement of several updates that might help LINK within the cryptocurrency world. One of the updates had Chainlink launching a new price feed to projects web3 projects from events such as data manipulation and flash crashes.

Web3 developers can leverage this technology to integrate ZIL-USD Price Feed (on the Optimism platform) to ensure secure DeFi marketplaces around Zilliqa’s coin. Nevertheless, Chainlink updated its clients about its actions on climate change. The crypto project revealed plans to work on worldwide carbon credit standards.

Chainlink will add massive incentive models while supplementing operative climate initiatives. Moreover, Chainlink will collaborate with coorest, dcimatedao, and hyphen to ensure climate change and sustainability.

Talk of the Town

Chainlink noted improved social media presence due to the updates. The token’s social mentions increased by 15.98%, while social media engagements recorded a 6.55% surge within the previous week. LINK also saw other bullish signals.

Its volume has surged since early September to 503 million from 200 million. Besides that, LINK’s MVRV maintained stable upticks, confirming a lucrative future for the altcoin. Also, the developer activity saw an uptick, albeit a minor move. More updates might surface to support stretched surged in the future, regardless of the horizontal line.

The Broad Picture?

Nevertheless, LINK hasn’t flourished on the upside road. Active addresses count has plunged within the past three months. The assets market capitalization also slumped, plummeting by 4.59% since July. These factors might be a massive concern trigger for investors.

The last 24 hours had LINK gaining 2.64%. While publishing this blog, the alternative token swayed well above the support to $7.38, eying a test of the resistance mark at $8.18. Meanwhile, the momentum seemed to be on the buyer’s side as the Relative Strength Index read 64.44.

Nevertheless, the on-balance volume (OBV) maintained sideways movements, signaling potential uncertainty in the future.

Editorial credit: sdx15 /