Chainlink (LINK) recorded a weekly increase of over 20% and is currently at levels not seen 3 years ago.
The rise was driven by the purchase made Bitcoin-estadosunidos/” target=”_blank” rel=”noreferrer noopener”>World Liberty Financialthe platform decentralized finance (DeFi) promoted by Donald Trump, the president-elect of the United States.
On December 11, World Liberty Financial bought 41,335 LINK for 1 million dollars.
Since this purchase became known, the price of the asset has shot up and, at the time of publication of this note, it is trading above $28.70, 45% below its all-time high (ATH).
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LINK quote from 2020 to December 13, 2024. Source: TradingView.
Purchases of cryptocurrencies by entities or public figures are seen by the market as an endorsement or interest in the underlying project, in this case, the Chainlink protocol. In this way, the asset gains visibility and manages to attract new investors, generating an upward momentum in its price.
It is worth remembering that on November 14, the platform advertisement an integration with price feed of Chainlink, with the aim of providing real-time and tamper-proof data to the World Liberty Financial project.
As explained in Criptopedia, educational section of CriptoNoticias, Blockchain-criptomoneda-token-contratos-inteligentes/” target=”_blank” rel=”noreferrer noopener”>Chainlink is a decentralized oracle network that connects the Ethereum-bitcoin-criptomonedas-seguridad/” target=”_blank” rel=”noreferrer noopener”>smart contracts with the real world. In that environment, price feeds are technically known as a “decentralized data model,” which act as information channels that are updated by all oracles that have received the link from a node.
In the press release issued by World Liberty Financial, it is highlighted that Chainlink was chosen for its ability to provide solutions “to critical security, interoperability and on-chain data issues” related to the launch of the platform that is under the control of Donald Trump Jr. and Eric Trump
«World Liberty Financial’s partnership with Chainlink marks a huge step forward. “We have never been more optimistic about cryptocurrencies or the overall future of DeFi technology,” said Eric Trump, Web3 ambassador on the DeFi platform.
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