Chainlink’s (LINK) BTC Pair Hits Resistance: Analyst Foresees $30-40 Surge



Chainlink (LINK) once again has been under focus with regard to moving across important resistance levels in its Bitcoin pair. Crypto analyst Michaël van de Poppe, CEO and Founder of MN Trading highlighted that LINK recently witnessed a surge in its BTC pair but could not surpass the major resistance point. The analyst proposes that it is looking for a higher low and support to change course back towards 4500 satoshis.

However, Van de Poppe remains positive about the future of LINK. Van de Poppe predicts that if the cryptocurrency gets support and successfully reverses, it may cause a significant upward movement. Indeed, Van de Poppe gave a bold statement predicting that LINK might gain significantly from $30 to $40 in the next few months.

Chainlink’s Resilience & Appeal to Institutional Players

Meanwhile, amidst the market analysis, LINK’s strong infrastructure and institutional investors’ attractiveness were brought forward by ChainLinkGod.eth, a Community Ambassador at Chainlink.

Answering a question raised by many potential institutions considering blockchain and using tokenized assets, the Ambassador stressed that there is not enough appetite for the investment of resources in platforms that will probably not catch or live up to promised technical capabilities.

LINK’s value proposition became more visible, with the ambassador pointing out its blockchain-agnostic nature, offering flexibility irrespective of the underlying chain. Besides, the Ambassador also lauded the Chainlink CCIP (Cross-Chain Interoperability Protocol), which facilitates easy interconnection between different blockchain ecosystems – a vital element towards enhancing liquidity on Real World Assets (RWAs).

In addition, the CCIP was valued by many institutions for its ability to support the abstraction layer while enabling easy integration with the existing back-end. Therefore, it complies with institutional standards for such a standard and flexible solution.

This was underlined by the importance of data solutions that Chainlink gives, paramount in tokenized assets that include pricing, proof of reserve, identity verification. CCIP and Chainlink Data were hailed as a cornerstone for taking over the movement from one blockchain to another, maintaining their respective decentralized applications and providing them with all relevant feeds without loss.

Related Reading |  Nigeria’s Crypto Confusion: Government’s Mixed Signals Raise Concerns


Source link

Written by BTC Artist

Leave a Reply

Your email address will not be published. Required fields are marked *

Riot Platforms Bitcoin mining output surged by 19% in 2023: report

Riot Platforms Bitcoin mining output surged by 19% in 2023

Tron Fee Revenue Hits ATH $1.758M High: Data

Tron Fee Revenue Hits ATH $1.758M High: Data