At the time of writing this article, the price of Chainlink is rising by more than 5%, triggering a wide variety of predictions and analyses.
An analyst, for example, a few hours before the rise had suggested that LINK is now at the verge of glory.
$LINK on the verge of glory again.
>$11.50 and it's another full colour flip.
The last one was pretty special. pic.twitter.com/uCKe0bZrLx
— Cold Blooded Shiller (@ColdBloodShill) October 22, 2020
As a result, having passed the red zone, the price of LINK could soon rise towards the upcoming $13 resistance.
$LINK has emerged from the cloud of red.
On to pasture new, and greener.
I'm not looking for specific targets (aside from the near term retest of $11.50 and an upper resistance of $13)
The green wave is what I'll ride. pic.twitter.com/pVleLLgLHa
— Cold Blooded Shiller (@ColdBloodShill) October 23, 2020
The latest news from Chainlink
Analysis aside, Chainlink recently announced several positive news and, in conjunction with the bullish market, this is certainly contributing to the price rise of the asset.
A few hours ago, in fact, Chainlink announced that its VRF function, the verifiable randomness function, has landed on the Ethereum mainnet.
It is a system for generating verifiable randomness, an application that could be useful in games and gambling, for example.
Chainlink co-founder Sergey Nazarov said that several users were already using the tool on the testnet and that they could integrate the function on their gaming platforms.
In addition, a few days ago Chainlink also announced that Unstoppable Domains are using its services to connect Twitter handles to an Ethereum address.
1/ Blockchain domain provider @unstoppableweb is using #Chainlink live on mainnet to allow users to link their Twitter handle to a public #Ethereum address as a form of identity verification. Learn how to claim your blockchain domain in the video below. pic.twitter.com/tItznY1Ylb
— Chainlink – Official Channel (@chainlink) October 20, 2020
The system is very simple and useful to remember one’s address, but it is also a method to find out the ETH balances of famous users, as revealed by Decrypt some time ago. In fact, by knowing the name and surname of someone who uses these services it would be easy to recover the details of their balances because at that point addresses would be names.
Finally, Chainlink has also entered into a partnership with Everipedia and Associated Press to report US presidential election data on the blockchain.