Chainlink LINK/USD is a cryptocurrency that incentivizes a global network of computers to provide reliable, real-world data to smart contracts which run on top of blockchains.
The Chainlink Keeper Network uses automation bots to trigger smart contract execution.
The Chainlink Keeper incorporation as a catalyst for growth
Chainlink has recently been integrated into a lot of projects, such as the Colombian peso stablecoin DLY.
On October 7, the Crypto Volatility Index (CVI), which is a protocol that tackles the implied volatility of Bitcoin and Ethereum, announced the incorporation of Chainlink Keeper to automate the maintenance of maintenance tokens that are pegged to the volatility indices.
VCI registers a Chainlink Keeper to trigger token rebase.
The Chainlink Keepers continually monitor the time.
Their goal is to call the CVI smart contracts when a specific time is reached, in this case, midnight UTC time.
These CVI smart contracts verify that the time conditions are met, and as such, they automatically execute a token release.
This means that every time a rebase is required, an entity needs to call to smart contracts on-chain in order to trigger the rebase function to run.
Chainlink Keepers performs off-chain computation to check for predefined conditions, after which it calls on-chain functions when they are found to occur.
Should you invest in Chainlink (LINK)?
On October 7, Chainlink (LINK) had a value of $27.21.
To get a better perspective of what kind of value point this is for the token, we will be going over its all-time high value as well as its recent performance in September.
That being said, in terms of its all-time high value, LINK was worth $52.70 on May 10. At its all-time high, LINK was worth 93% more, or $25.49 more than it was on October 7.
On September 6, LINK saw its highest point of value at $36.03. This gives us a perspective that on October 7, LINK’s value was $8.82 lower than it was at its highest point in September. This marked a 24% decrease in value.
On September 21, LINK had its lowest point of the month with a value of $21.39. From September 6 to September 21, LINK fell in value by $14.64 or by 40%.
According to data from IntoTheBlock, Chainlink (LINK) saw $1.56 billion in transactions greater than $100,000 within the last seven days.
Additionally, within the last seven days, Chainlink also saw $204.79 million in total exchange inflows as well as $169.72 million in total exchange outflows.
With all of this in mind, we can expect the LINK token to increase in value to $34.01 by the end of October.
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from Market Analysis – Invezz
