Chainlink Integrates New Tech, And It’s Going Green – Healthy For LINK?

Christian Encila

Last Updated: September 13, 2022 11:13 am

3 mins read

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Chainlink (LINK) made a couple of announcements in line with the integration of ZIL/USD Price Feed that safeguards Web3 projects from crashes and data hacks as well as its thrust towards going green.

Chainlink starts bullish but swerves towards the bearish zone
Chainlink working on tech initiatives to combat climate change
LINK total volume grows from 200 million to 516 million in September

Chainlink in collaboration with Coorest, DlcimateDAO, and Hyphen is working on initiatives directed toward climate change.

LINK Shows Amplified Social Media Metrics

All of these new developments have greatly amplified the social media metrics of Chainlink. As evidence of that, LINK’s social media engagements have spiked by 6.65%, and social mentions also skyrocketed by 16.23% as seen in the past week.

LINK has been noticeably bullish with its total volume growing from 200 million to as much as 516 million as observed early in September.

In addition, the altcoin’s MVRV has also been surging which gives a rather positive momentum for LINK.

Development activity has also shown a minimal uptrend with further updates contributing to LINK’s price increase in the coming days.

While it looks like things are going pretty well for Chainlink this month, it wasn’t an easy route for the altcoin.

Evidently, there has been a huge drop in the number of unique active wallet addresses as seen in the past three months.

Dominance in terms of market capitalization has also plunged as it capsized by 4.64% as seen in July.

LINK Displaying Weakened Momentum

On a 24-hour timeframe, LINK’s price is seen to have increased by 2.72%. LINK has currently breached the support present at $7.46 and is hovering towards the key resistance at $8.25.

Chainlink’s RSI is currently at 64.72 revealing an increase in selling activity or hinting at a downward movement.

On the other hand, its OBV is observed to be treading a sideways motion.

Chart: TradingView.com

Chainlink was seen to be bearish and displaying a negative momentum in the past couple of hours; with the price crashing towards $7.54. LINK’s value has improved a bit in the past few hours.

According to CoinMarketCap, LINK price is down by 2.83% or trading at $7.72

Chainlink reveals to be following a downward movement and could even plunge further. The overall market conditions also look negative with the bears trying to dominate the market.

LINK total market cap at $3.6 billion on the daily chart | Source: TradingView.com

Featured image from The Daily Hodl, Chart from TradingView.com

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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