Why the sudden jump for LINK?

TL;DR

• Instead of looking too much into the results, we’re more interested in the why behind a price surge like this.

• The why in LINK’s case? The adoption of its ‘Cross-Chain Interoperability Protocol’ (CCIP).

• The combination of development of valuable features, increased adoption and this mini bull market has led LINK to a tidy increase in value, with some days like Saturday.

Full Story

Chainlink (LINK) just went up by 6%.

Which is awesome – but while we love to see green, crypto projects go up and down in value all the time.

Instead of looking too much into the results, we’re more interested in the why behind a price surge like this.

The why in LINK’s case? The adoption of its ‘Cross-Chain Interoperability Protocol’ (CCIP).

Confused? Lettuce explain:

Chainlink is known as an ‘oracle’ blockchain.

Which is a nerdy way of saying, it collects data from trusted third parties, puts it on the blockchain, and charges people to access that verified information.

(Which is super handy when you want to automate something like ‘buy X when Y happens’ or ‘sell Y when X happens’).

LINK was working well…then in July the team behind it launched CCIPs which simplify the process for sending cross-chain transactions.

(I.e. wanna purchase an Ethereum NFT but only have SOL? You’ll need to do a cross-chain transaction).

The result over the past few months can be summed up by the following emoji:

The combination of development of valuable features, increased adoption and this mini bull market has led LINK to a tidy increase in value, with some days like Saturday.

Alright, now you know!

P.S. We did a deep dive on LINK in the fourth edition of our Over The Shoulder program. If you want to check it out plus an analysis on 24 other crypto projects, you can get 20% off here.