Link: 12/18 Status Update

A look at the trading status of the Chainlink token

Price action

ChainLink’s having a good day and sells at 2,400 Satoshis. It’s a price close to the Dollar ATH and quite a relief after the token went as low as 1,000 Satoshis a week ago. Still, the takeoff isn’t that amazing considering that it’s alt party time and everything is mooning out of the blue. Yes, the people who bought Bitcoin a couple weeks ago and were shocked that their investment didn’t go 4x overnight have discovered alts and moon missions. First they came for Ethereum, then they came for Litecoin, and now they’re signing up for Bittrex and Binance en masse, ready to buy that amazing new coin before Korea wakes up. Give it another month and grandpa will be chiding you for not dressing nice like Ian Balina.

All these alt gains are nice, but could disappear in a minute if Bitcoin does it’s thing and moons or crashes even a mere 10%. This didn’t use to be much, but futures trading seem to have tamed the beast and Bitcoin swims slowly. For now.

News

A partnership has been announced! Zeppelin OS will be using ChainLink. In their own words:

ChainLink’s oracles will benefit zeppelin_os users by giving them access to traditionally off-chain information. The zeppelin_os platform itself will also benefit from this access. For example, the platform’s Scheduler component is a bounty-based smart contract async execution manager. It allows for richer execution models through the use of a standardized set of signaling events. This makes it possible for standard mechanisms for requesting data from trusted and authoritative sources by adding a validation on the callback originator to ensure the response is provided by a secure oracle. Our Marketplace feature is also able to use trusted oracles to its advantage. For example, oracles would allow for transactions of unlike currencies without the use of a formal exchange. This requires the developer to load tokens of the external protocol to a smart contract, creating a buffer. These tokens will be used to pay for protocol services as users pay for services in the application using ZEP tokens. The smart contract will have an oracle which dictates the exchange rate for converting ZEP to the external token. The developer then receives ZEP and spends the external tokens.

Thomas Hodges, Chainlink’s technical CM, wrote an article on how ChainLink interacts with data from external adapters.

Finally, the mods of the unofficial ChainLink Telegram channel have quit. It seems they were looking to be compensated in tokens for their work and their demands were not met. The channel has become an unreadable free for all where people discuss every and any project you might think of. We still have the official Slack channel, the subreddit (links at the bottom of this article) and about 500 daily threads on /biz/. It’s not discussion we’re lacking, it’s news.

Wallets, Exchanges and the Top 100

Volume has been picking up and peaked at $20M on Saturday. It’s happening to many other alts, and traders are getting weary, spending less time looking for trade entries and more seeking exits from overvalued alts. Still, Link remains in the top 100 with a valuation of $140M. The next two weeks will determine whether this valuation is a peak or just a first stop on ChainLink’s Mount Everest expedition.

There haven’t been many changes in the top 100 wallets. Binance’s new wallet got bigger and reached 117 Million Link tokens. It holds plenty of tokens from other coins too, all for a whopping $1,5 Billion value.

A couple wallets got an extra 40 or 50K from Binance. Another one got over 500K in a week. This one has slowly been accumulating for months and holds nothing else. It could be a legitimate whale or yet another Binance cold wallet.

The number of wallets hardly grew this week. Just 5% more wallets have added Link tokens since Binance consolidated its wallets. New Link buyers are keeping their tokens in the exchange, ready to sell at a moment’s notice.

All in all, people are waiting for the December news. All except the daytraders, who have noticed Link’s moon-and-crash patterns and are riding the rocket on a daily basis. Nothing of substance will happen until we have news again. Hopefully not from Sergey directly (he won’t reveal previously unannounced partnerships or exchanges) but from someone ChainLink has been working in secret. Someone big. Barring that, all we can hope for is dates for the mainnet release, and I doubt the market would consider that enough.

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