• Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
    • Ape
    • HBAR
    • QNT
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining
Wednesday, March 22, 2023
  • Login
  • Register
Coin24h.com
  • Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
    • Ape
    • HBAR
    • QNT
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining
No Result
View All Result
  • Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
    • Ape
    • HBAR
    • QNT
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining
No Result
View All Result
Coin24h.com
No Result
View All Result
Ledger Nano X - The secure hardware wallet
ADVERTISEMENT

VC: Chainlink’s and Band’s 20% price jump bodes well for DeFi bull run

23 August 2020
in Cryptocurrency
Reading Time: 3 mins read
A A
0
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter
cryptotrader
ADVERTISEMENT


Like the rest of the crypto market, coins pertaining to the decentralized finance space have faced a strong pullback over the past few days. Take Maker (MKR), for instance. CryptoSlate data indicates that the leading Ethereum-based coin has shed 9.5 percent in the past 24 hours.

There are cryptocurrencies that are strongly outperforming the pack, though. Two of these are Chainlink (LINK) and Band Protocol (BAND), which both have registered 20 percent gains in the past 24 hours alone after a strong retracement.

Related articles

Are Cryptocurrencies Approaching the End?

20 February 2022

Top 5 Crypto Airdrops for February 2022

2 February 2022
Chart of LINK’s price action over the past 24 hours. Source: LINK/USD chart from TradingView.com

A fund manager in the space says that this recovery bodes well for the decentralized finance space, which in turn bodes well for the rest of the crypto market.

[crypto-donation-box]

How LINK and BAND moving higher shows there are good things to come for Ethereum DeFi

Both LINK and BAND have surged higher by around 20 percent in the past 24 hours after both facing a strong retracement from the highs they experienced last week. LINK experienced a 30 percent correction while BAND experienced a 40 correction drop.

Kelvin “Spartan Black” Koh, a partner at the crypto fund The Spartan Group and a former Goldman Sachs partner, said on Aug. 22, amid the move higher in these assets, that this trend bodes well for the DeFi market:

“Oracles led the previous leg of DeFi rally on the way up and then on the way down. If today’s move in $LINK and $BAND is any indication, the next rally for the broader DeFi space should follow.”

Oracles led the previous leg of DeFi rally on the way up and then on the way down. If today’s move in $LINK and $BAND is any indication, the next rally for the broader DeFi space should follow.

— SpartanBlack (@SpartanBlack_1) August 22, 2020

It can be also be said that DeFi rallying has a positive effect on the rest of the cryptocurrency market.

Although it is hard to tell what exactly transpired, analysts attribute Bitcoin’s leg higher at the end of July and the start of August to strong maturation in the DeFi sector, which sparked an influx of interest in the cryptocurrency market. 

Cryptohopper
ADVERTISEMENT

On-chain and social trends suggest Chainlink and Band Protocol have further to rally

Both LINK and BAND have fundamentals suggesting they will continue their ascent.

For Chainlink, the asset has seen a spike in daily active addresses, implying an increase in investors in the market. Blockchain analytics firm Santiment reported in regards to the chart below:

“$LINK hit an all-time high yesterday in daily active addresses. This came in tandem with an #altcoin decline that sent it down to $13.49. Now back at $16.10, the classic bullish divergence that formed from an ATH in DAA is coming to fruition.”

Image

The same company noted just hours later that BAND has seen a strong uptick in social sentiment, presumably due to a number of recent partnerships. An uptick in social media activity for a cryptocurrency normally indicates there is an increase in the number of investors looking to purchase said asset.

Like what you see? Subscribe for daily updates.





Source link

Tags: BandsbodesbullChainlinksDeFijumpPriceRun
Share76Tweet47
Ledger Nano X - The secure hardware wallet
Previous Post

Youtuber Explains How Crypto Scammers Took Control of His Account

Next Post

Ripple (XRP) Up $0.0022 in Last 4 Hours, Outperforms All Top Cryptos to Start the Day; Entered Today Up 2.51%

Related Posts

Are Cryptocurrencies Approaching the End?

20 February 2022
0

Are we really going to say goodbye to cryptocurrencies in 2022? During the past three months of the tough endeavor,...

Top 5 Crypto Airdrops for February 2022

2 February 2022
0

Even though the top crypto airdrops of January 2022 just wrapped up, there best of the crypto world is still...

NFT sales are sizzling: Record $5 billion in sales as Bored Apes, Loot, CryptoPunks make splash

11 September 2021
0

Mutant Ape Yacht Club, Loot (for Adventurers) and Bloot (not for Weaks) made a splash during the last two weekends,...

Developments on LUNA are converging to bring “Terra Autumn” to fruition

10 September 2021
0

On balance, 2021 has been an exceptional year for Terra so far. And, as developments on the project begin to...

Why Standard Chartered says Ethereum (ETH) could pump to $35,000

9 September 2021
0

While the Bitcoin or Ethereum debate rages on between early investors and maxis, London-based bank Standard Chartered already seems to...

Load More
Next Post

Ripple (XRP) Up $0.0022 in Last 4 Hours, Outperforms All Top Cryptos to Start the Day; Entered Today Up 2.51%

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

We publish a comprehensive news feed covering all news relevant to the crypto user, covering main industry news, politics and regulation as well as consumer-level “news you can use” (practical stuff), including handy DIY tips, links to useful tools, unbiased reviews and opinions revolving around cryptocurrency. Simple logic and real-world examples are preferred before technical jargon and personal rants.

Categories

  • Altcoin
  • ApeCoin
  • Bitcoin
  • Blockchain
  • BNB
  • Cardano
  • Cryptocurrency
  • DOGE
  • DOT
  • Ethereum
  • HBAR
  • Litecoin
  • Market
  • Meta News
  • Mining
  • NFT
  • QNT
  • Regulation
  • SHIBA
  • Solano
  • Tether
  • Uncategorized
  • XDC
  • XLM
  • XRP

What’s New Here!

  • Shiba Inu: New listing of SHIB by Japanese crypto exchange, 4,600% burn rate increase, launch of Shibarium and the metaverse
  • States debate whether to restrict—or invite—crypto mining
  • Barcelona player is the star of TOTW 21 in FIFA 23 Ultimate Team

Newsletter

  • About Us
  • Privacy Policy
  • Contact Us

© 2022 coin24h.com

No Result
View All Result
  • Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
    • Ape
    • HBAR
    • QNT
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining

© 2020 coin24h.com

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoinBitcoin(BTC)$27,324.00-3.10%
  • ethereumEthereum(ETH)$1,730.94-3.96%
  • tetherTether(USDT)$1.01-0.15%
  • binancecoinBNB(BNB)$323.08-4.70%
  • usd-coinUSD Coin(USDC)$1.000.00%
  • rippleXRP(XRP)$0.425346-10.54%
  • cardanoCardano(ADA)$0.359553-4.07%
  • dogecoinDogecoin(DOGE)$0.074851-2.91%
  • matic-networkPolygon(MATIC)$1.12-2.94%
  • staked-etherLido Staked Ether(STETH)$1,729.06-3.99%
  • solanaSolana(SOL)$21.46-5.37%
  • binance-usdBinance USD(BUSD)$1.00-0.22%
  • polkadotPolkadot(DOT)$6.06-5.39%
  • litecoinLitecoin(LTC)$86.494.52%
  • shiba-inuShiba Inu(SHIB)$0.000011-3.26%
  • tronTRON(TRX)$0.060153-10.92%
  • avalanche-2Avalanche(AVAX)$16.72-4.72%
  • daiDai(DAI)$1.00-0.07%
  • uniswapUniswap(UNI)$6.06-6.18%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$27,404.00-2.77%
  • ToncoinToncoin(TON)$2.39-0.93%
  • chainlinkChainlink(LINK)$7.15-4.20%
  • cosmosCosmos Hub(ATOM)$11.33-5.70%
  • leo-tokenLEO Token(LEO)$3.38-1.11%
  • ethereum-classicEthereum Classic(ETC)$20.04-4.39%
  • moneroMonero(XMR)$149.54-1.72%
  • okbOKB(OKB)$44.93-1.66%
  • bitcoin-cashBitcoin Cash(BCH)$125.95-6.29%
  • stellarStellar(XLM)$0.090740-6.23%
  • filecoinFilecoin(FIL)$5.57-6.67%
  • AptosAptos(APT)$12.421.04%
  • true-usdTrueUSD(TUSD)$1.00-0.39%
  • lido-daoLido DAO(LDO)$2.36-2.25%
  • hedera-hashgraphHedera(HBAR)$0.061463-4.00%
  • quant-networkQuant(QNT)$125.37-4.11%
  • crypto-com-chainCronos(CRO)$0.068512-4.25%
  • nearNEAR Protocol(NEAR)$1.94-6.57%
  • vechainVeChain(VET)$0.022847-5.13%
  • blockstackStacks(STX)$1.174.41%
  • algorandAlgorand(ALGO)$0.215694-3.56%
  • internet-computerInternet Computer(ICP)$5.03-4.74%
  • apecoinApeCoin(APE)$3.99-3.64%
  • fantomFantom(FTM)$0.468318-2.68%
  • the-graphThe Graph(GRT)$0.142766-6.11%
  • eosEOS(EOS)$1.10-7.70%
  • the-sandboxThe Sandbox(SAND)$0.64-5.27%
  • immutable-xImmutableX(IMX)$1.270.29%
  • aaveAave(AAVE)$74.29-5.82%
  • decentralandDecentraland(MANA)$0.58-5.84%
  • elrond-erd-2MultiversX(EGLD)$42.08-5.55%