Flurry of Partnerships Sends Chainlink Higher Today
As crypto investors look to skate to where the puck is headed, AI-related tokens and those involved in backend infrastructure supporting high-growth areas of the cryptocurrency market are coming into focus. Accordingly, today's 8.4% 24-hour move in Chainlink (CRYPTO: LINK) as of 11:45 a.m. ET shouldn't be surprising.
That's because Chainlink provides key functionality for various decentralized applications, such as decentralized exchanges, to operate. Via Chainlink's Oracle Price Feeds and other services, Chainlink allows for real-time off-chain data to be ported to the blockchain. This is invaluable to various projects looking to integrate with the blockchain.
Today, two key partnerships were announced that bolster the value proposition behind Chainlink, generating significant investor interest. Innovative fashion and lifestyle project PLAY! POP! GO! announced an integration with Chainlink's Verifiable Random Function on Ethereum. Additionally, market infrastructure and information provider TP ICAP announced it is joining the Chainlink ecosystem to bring forex data to provide analytics and tamper-resistant oracle reports.
Source Fool.com
