Michael van de Poppe, one of the technical analyst veterans, called for an ‘opportunity of a lifetime’ for an Ethereum-based altcoin.
“These levels are the opportunity of a lifetime”
Chainlink is one of the strongest players in the market as an oracle service provider and smart contract platform. The altcoin project has now become the industry standard for building, accessing and selling oracle services needed to power hybrid smart contracts on any blockchain network.
The network’s native token, LINK, has been the focus of a strong price rally lately. It has been trading at $7.89 in the green 15% since last week. Popular crypto analyst Michael van de Poppe interprets these levels as “opportunity of a lifetime” in LINK price. Poppe, who frequently addresses altcoins, said that $6-8 represents the best range to buy LINK for a very long time.
#Chainlink is looking strong and is still a massive opportunity here, I keep repeating it.$ATOM is looking very strong here, while multiple other altcoins are starting to show signs of strength.
The coming months will be fun, expecting a ton of volatility.
— Michaël van de Poppe (@CryptoMichNL) September 8, 2022
A few crypto market experts also see Chainlink as a valuable altcoin. The ability to outsource information to blockchains is Chainlink’s strongest use case for Web3. LINK can also provide a wide range of tools for Blockchain and smart contract platforms.
Apart from these, we can say that it dominates the oracle market in the field of Web 3.0. Chainlink’s Oracle services allow users to take data from the real world and perform different calculations. Chainlink’s data streams also have a huge use case in the DeFi market. Some major companies in the crypto market support Chainlink’s data integrations.
Latest developments from the altcoin project
The Chainlink protocol offers Verifiable Random Function or VRF, a popular random number generator. Without sacrificing security and decentralization, VRF provides randomness to different Blockchain platforms. There are several companies currently using Chainlink’s VRF facility.
As Kriptokoin.com reported, this week Web3 strategy game Mechaverse announced the VRF integration with Chainlink. The announcement from Mechaverse is as follows:
By integrating the industry-leading decentralized oracle network, we now have access to a tamper-proof and auditable source of randomness to help make allow list distribution in Mecha-Fight fair for all users. As a result, this creates a more exciting and transparent user experience, as users have high assurance that the allow list fields are fairly distributed.
Another Web3 community platform, MAJOR, also announced the integration of Chainlink’s VRF. At the same time, decentralized exchange Qube announced its integration with Chainlink Keepers on the BNB mainnet. This will give Qube “access to a secure and low-cost smart contract automation service.” At the same time, it will automatically recalculate the value of the stake rewards in QUBE.
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