{"id":633159,"date":"2024-08-05T13:30:17","date_gmt":"2024-08-05T13:30:17","guid":{"rendered":"https:\/\/uniquehot.com\/?p=633159"},"modified":"2024-08-05T10:40:30","modified_gmt":"2024-08-05T10:40:30","slug":"chainlink-market-panic-shaves-21-off-link-price-details","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/chainlink-market-panic-shaves-21-off-link-price-details\/","title":{"rendered":"Chainlink: Market Panic Shaves 23% Off LINK Price &#8211; Details"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Chainlink suffers losses as the token continues to follow the broader market wave of bearish pressure. According to <\/span><a href=\"https:\/\/www.coingecko.com\/en\/coins\/chainlink\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">Coingecko<\/span><\/a><span style=\"font-weight: 400\">, the token is down 23% in the past 24 hours, representing a significant wipe in value after the price stabilized in the $13 to $14 price range.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The crypto market continues to be <\/span><a href=\"https:\/\/www.investing.com\/news\/economy\/slumping-us-futures-nikkeis-hefty-fall-bitcoin-weakness--whats-moving-markets-3554007\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">influenced<\/span><\/a><span style=\"font-weight: 400\"> by outside forces in the short to medium term, with the anxieties of private equity bleeding into the crypto market turning the correction into an absolute bloodbath.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/matic-market-nosedive-leads-to-30-wipe-in-value\/\" target=\"_blank\" rel=\"noopener \">MATIC: Market Nosedive Leads To 30% Wipe In Value<\/a><\/div>\n<h2><span style=\"font-weight: 400\">What\u2019s In It for Chainlink?<\/span><\/h2>\n<p><span style=\"font-weight: 400\">LINK\u2019s niche of capturing and streaming price feed data to partners has been shaken by the recent groundbreaking market movements that have shown that the token fails to capture any value.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">In a recent X <\/span><a href=\"https:\/\/x.com\/chainlink\/status\/54217160\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">post<\/span><\/a><span style=\"font-weight: 400\"> detailing recent developments that may affect the crypto world, supporters of Chainlink left comments that show their skepticism of its relevance to the LINK token.\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Capital markets news: Mercedes, Siemens, and other major German enterprises test commercial bank money tokens (CBMT).<\/p>\n<p>\u201cRobots could be paid automatically for the work they perform for other companies or customers with the help of tokens,\u201d noted the Proof of Concept (PoC).\u2026 <a href=\"https:\/\/t.co\/KqhV5CcNAh\" rel=\"nofollow\">pic.twitter.com\/KqhV5CcNAh<\/a><\/p>\n<p>\u2014 Chainlink (@chainlink) <a href=\"https:\/\/twitter.com\/chainlink\/status\/54217160?ref_src=twsrc%5Etfw\" rel=\"nofollow\">August 2, 2024<\/a><\/p><\/blockquote>\n<p><span style=\"font-weight: 400\">\u201cWhat does any of this have to do with the<\/span><a href=\"https:\/\/x.com\/search?q=%24Link&amp;src=cashtag_click\" rel=\"nofollow\"><span style=\"font-weight: 400\"> $Link<\/span><\/a><span style=\"font-weight: 400\"> token? The token is what funded you guys from the very beginning to [the] present day. How is it capturing value?\u201d a <\/span><a href=\"https:\/\/x.com\/TTLinkie3299\/status\/33812239\" rel=\"nofollow\"><span style=\"font-weight: 400\">user<\/span><\/a><span style=\"font-weight: 400\"> on X said in their comment.<\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">What does any of this have to do with the <a href=\"https:\/\/twitter.com\/search?q=%24Link&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$Link<\/a> token? The token is what funded you guys from the very beginning to present day. How is it capturing value?<\/p>\n<p>\u2014 TT \ud83e\udd6d &amp; FUD Farmer (@TTLinkie3299) <a href=\"https:\/\/twitter.com\/TTLinkie3299\/status\/33812239?ref_src=twsrc%5Etfw\" rel=\"nofollow\">August 2, 2024<\/a><\/p><\/blockquote>\n<p><span style=\"font-weight: 400\">Despite the skepticism of the follower base in Chainlink, the organization continues to receive positive news at the start of the month. Last week, Concero, a blockchain infrastructure platform, <\/span><a href=\"https:\/\/medium.com\/@concero\/concero-integrates-chainlink-ccip-to-unlock-cross-chain-defi-c86456390f3f\" rel=\"nofollow\"><span style=\"font-weight: 400\">announced<\/span><\/a><span style=\"font-weight: 400\"> its selection of Chainlink\u2019s CCIP for \u201csecure cross-chain interoperability.\u201d\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Concero also joined Chainlink Build, a partnership program that grants them enhanced access to Chainlink services which guarantees the quality of the data stream they\u2019ll receive.\u00a0<\/span><\/p>\n<figure style=\"width: 2475px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.tradingview.com\/x\/erv3jgdr\/\" alt=\"\" width=\"2475\" height=\"1163\"><figcaption class=\"wp-caption-text\">LINK market cap currently at $5.1 billion. Chart: TradingView.com<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">Another addition to the Chainlink Build family is <\/span><a href=\"https:\/\/x.com\/Rivalz_AI\" rel=\"nofollow\"><span style=\"font-weight: 400\">Rivalz AI<\/span><\/a><span style=\"font-weight: 400\">, the \u201cfirst AI intel layer\u201d, which will help the latter in the <\/span><a href=\"https:\/\/x.com\/chainlink\/status\/49882765\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">security<\/span><\/a><span style=\"font-weight: 400\"> of its AI-driven data network. Since the Build program is a two-way street, Rivalz made 3% of its token supply available to Chainlink stakers and providers which is an enticing offer to would-be stakers on Chainlink.<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, sell pressure <\/span><a href=\"https:\/\/cryptoquant.com\/asset\/link\/chart\/exchange-flows\/exchange-inflow-total?exchange=all_exchange&amp;window=DAY&amp;sma=0&amp;ema=0&amp;priceScale=log&amp;metricScale=linear&amp;chartStyle=column&amp;from=00&amp;to=99&amp;img=link%2F66b097910b1339737dced47c.png\" rel=\"nofollow\"><span style=\"font-weight: 400\">continues<\/span><\/a><span style=\"font-weight: 400\"> to plague LINK completely negating the attractiveness of the new additions to Chainlink\u2019s growing Build program.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The platform also suffered a massive outflow of staked crypto. According to <\/span><a href=\"https:\/\/defillama.com\/protocol\/chainlink-staking#information\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">DeFiLlama<\/span><\/a><span style=\"font-weight: 400\">, Chainlink suffered a 20% decrease in total value locked (TVL).<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/binance-coin-in-turmoil-nearly-10-value-erased-in-market-shake-up\/\" target=\"_blank\" rel=\"noopener \">Binance Coin In Turmoil: Nearly 10% Value Erased In Market Shake-Up<\/a><\/div>\n<h2><span style=\"font-weight: 400\">More Losses In The Short To Medium Term For LINK<\/span><\/h2>\n<p><span style=\"font-weight: 400\">At its current position, LINK will continue to face losses if the token falls well beyond its October 2023 level.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">LINK bulls should keep defending the $8.3 support as this will enable them to secure better positions in the long term. However, the current environment of anxiety and fear will hinder efforts to retake lost ground.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Investors and traders should then exercise caution as the market might follow the downward spiral that started with the correction phase that started last week.\u00a0<\/span><\/p>\n<p><em>Featured image from Pixabay, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chainlink suffers losses as the token continues to follow the broader market wave of bearish pressure. According to Coingecko, the token is down 23% in the past 24 hours, representing a significant wipe in value after the price stabilized in the $13 to $14 price range.\u00a0 The crypto market continues to be influenced by outside forces in the short to medium term, with the anxieties of private equity bleeding into the crypto market turning the correction into an absolute bloodbath.\u00a0 Related Reading: MATIC: Market Nosedive Leads To 30% Wipe In Value What\u2019s In It for Chainlink? LINK\u2019s niche of capturing and streaming price feed data to partners has been shaken by the recent groundbreaking market movements that have shown that the token fails to capture any value.\u00a0 In a recent X post detailing recent developments that may affect the crypto world, supporters of Chainlink left comments that show their skepticism of its relevance to the LINK token.\u00a0 Capital markets news: Mercedes, Siemens, and other major German enterprises test commercial bank money tokens (CBMT). \u201cRobots could be paid automatically for the work they perform for other companies or customers with the help of tokens,\u201d noted the Proof of Concept (PoC).\u2026 pic.twitter.com\/KqhV5CcNAh \u2014 Chainlink (@chainlink) August 2, 2024 \u201cWhat does any of this have to do with the $Link token? The token is what funded you guys from the very beginning to [the] present day. How is it capturing value?\u201d a user on X said in their comment. What does any of this have to do with the $Link token? The token is what funded you guys from the very beginning to present day. How is it capturing value? \u2014 TT \ud83e\udd6d &amp; FUD Farmer (@TTLinkie3299) August 2, 2024 Despite the skepticism of the follower base in Chainlink, the organization continues to receive positive news at the start of the month. Last week, Concero, a blockchain infrastructure platform, announced its selection of Chainlink\u2019s CCIP for \u201csecure cross-chain interoperability.\u201d\u00a0 Concero also joined Chainlink Build, a partnership program that grants them enhanced access to Chainlink services which guarantees the quality of the data stream they\u2019ll receive.\u00a0 Another addition to the Chainlink Build family is Rivalz AI, the \u201cfirst AI intel layer\u201d, which will help the latter in the security of its AI-driven data network. Since the Build program is a two-way street, Rivalz made 3% of its token supply available to Chainlink stakers and providers which is an enticing offer to would-be stakers on Chainlink. However, sell pressure continues to plague LINK completely negating the attractiveness of the new additions to Chainlink\u2019s growing Build program. The platform also suffered a massive outflow of staked crypto. According to DeFiLlama, Chainlink suffered a 20% decrease in total value locked (TVL). Related Reading: Binance Coin In Turmoil: Nearly 10% Value Erased In Market Shake-Up More Losses In The Short To Medium Term For LINK At its current position, LINK will continue to face losses if the token falls well beyond its October 2023 level.\u00a0 LINK bulls should keep defending the $8.3 support as this will enable them to secure better positions in the long term. However, the current environment of anxiety and fear will hinder efforts to retake lost ground.\u00a0 Investors and traders should then exercise caution as the market might follow the downward spiral that started with the correction phase that started last week.\u00a0 Featured image from Pixabay, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":633187,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,16295,6664,16097],"class_list":["post-633159","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-chainlink","tag-crypto","tag-link"],"acf":[],"yoast_head":"\n<title>Chainlink: Market Panic Shaves 23% Off LINK Price - Details<\/title>\n<meta name=\"description\" content=\"Chainlink suffers losses as the token continues to follow the broader market wave of bearish pressure. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. 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