Decentralized oracle service provider Chainlink (LINK) is setting the pace for major price growth that is billed to materialize in the near future. One crucial way the protocol is championing this potential bullish future is through the steady expansion of its ecosystem.
In a recent update shared, the Chainlink protocol said it has inked ten integrations featuring three of its services across five different blockchain protocols. As detailed, the integrations were spread across Ethereum, Avalanche, Polygon, Solana and BNB Chain, respectively.
Chainlink remains a formidable oracle service provider in the Web 3.0 ecosystem. Based on its diversity and massive embrace, it has been used to secure more than $7 trillion in Total Value Enabled (TVE) since its inception. Some of the new integrations include Areon Network, FractonProtocol and decentralized insurance service provider Etherisc.
The more Chainlink is adopted, the more relevant LINK becomes in node operations and functionality. By nature of the likely growth in the demand for the cryptocurrency, we can expect a massive intensity in the buying momentum of the LINK token, which will also have an underlying impact on the price of the digital currency.
Chainlink and subtle growth moves
As one of the most capitalized digital currencies in the industry, Chainlink has a high affinity among top market makers, in part due to its lower volatility. As reported earlier by U.Today, there is a growing transfer of massive amounts of LINK on-chain.
Data revealed that approximately 68,540 addresses acquired around 406 million LINK tokens recently, lending credence to the attractiveness of the cryptocurrency. Besides, Chainlink is making an impressive breakthrough in its use as a mainstream real-world utility provider, with the likes of TikTok and Spotify set to benefit from its latest feature release.
At the time of writing, LINK is trading at a price of $7, down by 3.34% over the past 24 hours.