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February 2013

ChainLink (LINK) is the Top Crypto Performer: Jumps 950% Since May

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Chainlink

Chainlink

The crypto bull run for the majority of 2019 has been one of the biggest news pieces of the year so far, and while Bitcoin went on a run that mirrored the incredible rally from back in 2017, many other cryptocurrencies suffered in the meantime.

However, one of the notable exceptions in this regard has been ChainLink’s crypto token named LINK, which has enjoyed an impressive rally of its own until January.

ChainLink Jumps 950% in Two Months

Back in January, the LINK token had reached its all-time high of $1.50, but eventually, it retreated to $0.50 in May. However, over the past two months, the coin has gone on an astonishing bull run to go up by as much as 950%.

ChainLink has soared all the way from $0.55 in May to its new all-time high of $4.54 (on June 29, 2019).

Strong Fundamentals

Amidst the coin’s bull run, it is also necessary to have a look at some of the important news that could affect its price at a fundamental level. In a development that could have a significant effect not only on the LINK token but also on ChainLink as a company, the firm signed a partnership with tech giant Oracle that could have far-reaching consequences. The collaboration will help ChainLink assist startups to sell data to Oracle’s vast network of customers in as many as 175 nations. The total number of customers currently stands at 430,000.

>> Blockchain Firm AmaZix is Tackling Crypto Scams on Telegram: Here’s How

However, that is not all. Earlier in June, ChainLink signed an even bigger deal when it entered a partnership agreement with tech behemoth Google. The search engine giant is going to use ChainLink’s special expertise in order to bring in greater collaboration between its cloud-based services and its blockchains.

It goes without saying that a blockchain partnership agreement with Google is a significant deal for any company and particularly one that has its own cryptocurrency. After the news broke in the middle of June, the price of a LINK token soared to $1.95 at one point.

Featured image: DepositPhotos © maloha13

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Aztec Introduces Privacy Network on Ethereum Blockchain

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Aztec

Aztec

Over the years, the Ethereum network has slowly but surely grown into one of the most influential blockchain networks in the industry. Over the years, plenty of institutions have established their proprietary networks on the Ethereum blockchain, and that is one of the major reasons behind this blockchain network.

In a new development that will come as a major boost for ETH fans, it has emerged that Aztec has decided to establish its private network on Ethereum. The network in question is supposedly going to provide a cost-effective solution to those who want to keep their transactions private.

Key Details

The company revealed the information in a blog post. The Chief Executive Officer of Aztec, Thomas Walton-Pocock, stated in the blog post that the new system will help users transact easily with private assets that are backed by ETH. He went on to state that initially, the network is going to be made compatible with dai; however, over the course of the next six weeks, support for other assets is also going to be added. However, that is not all. There have been other developments as well that could be seen as a positive by fans of the world’s second-biggest cryptocurrency.

Germany’s Waves, which is well known as an open-source blockchain platform, announced yesterday that it has an organization named Waves Association. The organization is a non-profit and is going to help in the governance of the entire Waves ecosystem.

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Alexander Ivanonv, who is the founder of Waves, revealed that the Waves Association will result in a rise in the number of users as well as developers. Waves also plans to attract other crypto enthusiasts who are engaged in developing blockchain-based solutions. It should be noted that in 2019, Waves had revealed that it was going to develop the Gravity Hub interoperability protocol that was going to include the Ethereum network as well.

Featured image: DepositPhotos © ellandar

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Bitcoin (BTC) Price Continues the Bulls Run, Near 5 Digits Mark

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Bitcoin

Bitcoin

Bitcoin price has surged this week to a fresh year-to-date high at the back of Facebook announcing that it is creating its own digital currency and payment network. BTC price is currently closing on the psychological mark of $10,000 per coin.

In the last trading session, Bitcoin gained around 7% to $9,766 on the Bitstamp Exchange. Since the beginning of the year, Bitcoin has gained close to 160%, taking the coin to a new year-to-date high.

Facebook’s Announcement Fuels the Rally

The surge in BTC is a result of a number of factors, but it did greatly benefit from Facebook’s announcement of its Libra cryptocurrency, which is a sign that crypto is returning to the mainstream. There are currently hot discussions regarding Libra even though it won’t launch immediately. According to Google Trends data in May, the searches for Bitcoin reached a new 12-month-high following speculation about Facebook’s plan to introduce its own crypto.

In a tweet, eToro analyst Mati Greenspan indicated that BTC price is being driven higher by fundamentals such as additional monetary facilitation from central banks, institutional adoption of cryptocurrency, and the anticipated Bitcoin halving.

>> Breaking Down the Barrier Between Fiat and Crypto

BTC Benefiting from Institutional Adoption

There is increased institutional cryptocurrency adoption with institutions such as Fidelity Investments and cryptocurrency platform Bakkt expected to start using BTC. Bakkt, a Bitcoin futures exchange, is expected to be trialed next month. The adoption of Bitcoin by one of the leading global asset managers is seen as a bullish development in the industry.

The anticipated BTC halving in 2020 will likely tighten the amount of available Bitcoin and this, coupled with growing institutional demand, will result in a supply shock, which bulls are already excited about.

Bitcoin price could also benefit from the move by the Fed to cut interest rates as from next month to increase growth.

Featured image: DepositPhotos © kentoh

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