SimpleFX Becomes The First Broker To Offer Chainlink: Report

SimpleFX becomes the first broker to start offering Chainlink with buy and sell options or to make a deposit in the cryptocurrency and use the price moves as we can see in the following Chainlink news today.

After the crazy surge of crypto followers, chainlink is at the 5 largest cryptocurrencies by market cap right behind Bitcoin and Ethereum, Tron and Tether. LINK/USD started trading at $4.12 which has peaked at $20 per year with a whopping 588% increase before crashing at around $12. According to the intelligence company IntoTheBlock, 100% of LINK wallets that are now in profits.

LINK is the crypto asset that has an exclusive payment currency on the Chainlink network and there are now 390 million tokens in circulation at present with a total of $1 billion. LINK will increase in value over time surely. Chainlink is a decentralized oracle network that brings smart contracts on the blockchain to real-world applications. The network has the potential to magnify the functionality of the DeFi smart contracts expanding the product variety by attracting more regulated players to join the Defi ecosystem.

LINK/USD recorder an all-time high in August with a $20 per token and daily active addresses rising to $15,600. There was a major squeeze of short contracts in the futures markets pushed in the LINK price with 25% within a day, which is the first major surge for the price. Chainlink’s robust performance amounted to 99.61% in August alone. The growing interest in DeFi provided a lot of support for the recent price rally.

According to Michael Anderson, the co-founder of Framework Ventures, the price will continue because of the uptrend in Chainlink’s plans with smart contracts and the goal in staking where users can earn passive income when they stake coins as collateral with Chainlink nodes. The big players could include Google, Intel, National Blockchain Services Network, Deutsche Telekom, and Oracle.

SimpleFX becomes the first trading platform where you can purchase LINK/USD and other assets on your mobile device or desktop device. All you have to do is to trade the coin or deposit using LINK on SimpleFX and it takes up to $5 to open the smallest trades.

While looking at the LINK price action over the past few days, the cryptocurrency was caught within a trading range of $11.20 and $13.20 with the two levels being visited and respected on a few other occasions over the past few days. One analyst noted that where the entire market trends in the near-term will shift to, depends on Bitcoin’s reaction to the range boundaries at $10,000 and $10,500.