Chainlink (LINK) Price Goes DOWN After Coinbase Pro Listing

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Wed, 06/26/2019 - 18:49
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Alex Dovbnya
Chainlink is now getting embraced by the biggest US exchange after its price increased by more than 200 percent in June alone 
Chainlink (LINK) Price Goes DOWN After Coinbase Pro Listing
Cover image via 123rf.com
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Coinbase Pro, the professionally-oriented version of the number one US crypto exchange Coinbase, has just made an announcement about listing Chainlink. The price of the 23rd biggest currency is sitting at $2.31 after its price increased by more than 230 percent in June.  

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It will take at least 12 hours until traders can post limit orders that are supposed to start matching shortly after that. During the fourth stage, the exchange’s customers will be able to use all available trading features.             

Notably, at the time of writing, LINK is actually down 3 percent, which means that the so-called Coinbase effect is yet to kick in (or it won’t happen at all).  

Chainlink is in the red despite the listing
A reverse Coinbase effect, image by CoinMarketCap 

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A fruitful month for Chainlink

Chainlink is an oracle service that strives to achieve a sufficient level of interoperability between Blockchain-based smart contracts and different types of off-chain data, such as temperature.

The project recently scored a high-profile partnership with Oracle. Prior to that, Google Cloud developer advocate Allen Day explained how Chainlink could be used as oracle middleware between Google’s BigQuery and Ethereum.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.