Rising Demand for Chainlink
2024-12-16
Category: None

The team behind the World Liberty Financial (WLFI) crypto project has acquired Chainlink (LINK), which has piqued the interest of the crypto community. Currently, their portfolio includes 4 cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Chainlink (LINK), and Aave (AAVE). World Liberty Financial purchased LINK tokens at an average price of $24.2. You can use Etherscan or other services to check the composition of their portfolio. Their wallet address is 0x5be9a4959308a0d0c7bc0870e319314d8d957dbb.



Bitwise Asset Management has filed an application with the U.S. Securities and Exchange Commission (SEC) to launch the "Bitwise 10 Crypto Index ETF", an exchange-traded fund that includes ten cryptocurrencies. Chainlink (LINK) is also part of this fund. Here’s the full list of cryptocurrencies in the ETF:

Bitcoin (BTC)
Ethereum (ETH)
Ripple (XRP)
Solana (SOL)
Cardano (ADA)
Avalanche (AVAX)
Chainlink (LINK)
Polkadot (DOT)
Bitcoin Cash (BCH)
Uniswap (UNI)

There is no certainty that their application to launch an ETF will be approved by the Securities and Exchange Commission (SEC). However, the fact that they have included Chainlink in their list of ten cryptocurrencies suggests that Bitwise Asset Management is optimistic about the prospects of this blockchain.

That’s not to say that Chainlink is a useless project only used for Pump & Dump schemes. Yesterday, it was announced that the cryptocurrency exchange Coinbase is integrating Chainlink’s CCIP technology. CCIP is a protocol that allows different blockchain networks to communicate with each other, enabling the transfer of assets, data, and functionality between chains.

Brazil’s central bank is working on creating a central bank digital currency (CBDC). In a press release on November 19, the central bank of Brazil announced that it has chosen Chainlink for this task. If Brazil achieves the desired results, it could lead to other countries’ central banks also choosing to use Chainlink.

 Technical Analysis 

The falling wedge pattern may cause the price of LINK to rise to $45.

