{"id":167205,"date":"2023-10-03T11:27:12","date_gmt":"2023-10-03T05:57:12","guid":{"rendered":"https:\/\/dripp.zone\/news\/chainlink-unveils-data-streams-but-link-price-retracing-to-7-0-crypto-news\/"},"modified":"2023-10-03T11:27:14","modified_gmt":"2023-10-03T05:57:14","slug":"chainlink-unveils-data-streams-but-link-price-retracing-to-7-0-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/chainlink-unveils-data-streams-but-link-price-retracing-to-7-0-crypto-news\/","title":{"rendered":"Chainlink Unveils Data Streams But LINK Price Retracing to $7.0 &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Oracle service provider <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/chainlink\/\">Chainlink (LINK)<\/a> has been one of the top-performing altcoins over the last few weeks shooting past $8 last week. However, the Chainlink party seems to be coming to an end with the LINK price currently under a strong retracement and dropping by another 4% in the last 24 hours.<\/p>\n<p>At press time LINK is trading at $7.60 with a market cap of $4.2 billion. Also, the Chainlink trading volume has shot up by 20% to $370,072,812. During its recent price rally, Chainlink also showed a strong <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/link-price-chainlink-crypto-news\/\">correlation with Bitcoin<\/a>.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<h3>Chainlink On-chain Data and Analysts Expectations<\/h3>\n<p>Based on the on-chain data set up after the current bounce, some market analysts have been expecting a correction. This is based on Santiment\u2019s Market Value to Realized Value (MVRV).<\/p>\n<p>The market\u2019s value-to-realized-value ratio, MVRV, serves as a gauge for market tops and bottoms. A high MVRV indicates a potential peak, while lows suggest accumulation phases.<\/p>\n<figure id=\"attachment_160601\" aria-describedby=\"caption-attachment-160601\" style=\"width: 3840px\" class=\"wp-caption aligncenter\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-160601\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/10\/Chainlink-LINK-MVRV.png\" alt=\"\" width=\"3840\" height=\"1300\" srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/10\/Chainlink-LINK-MVRV.png 3840w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/10\/Chainlink-LINK-MVRV-300x102.png 300w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/10\/Chainlink-LINK-MVRV-1224x414.png 1224w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/10\/Chainlink-LINK-MVRV-768x260.png 768w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/10\/Chainlink-LINK-MVRV-1536x520.png 1536w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/10\/Chainlink-LINK-MVRV-2048x693.png 2048w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/10\/Chainlink-LINK-MVRV-150x51.png 150w\" sizes=\"auto, (max-width: 3840px) 100vw, 3840px\"\/><\/noscript><figcaption id=\"caption-attachment-160601\" class=\"wp-caption-text\">Courtesy: Santiment<\/figcaption><\/figure>\n<p>Ali Martinez highlights data from @santimentfeed, indicating that when Chainlink\u2019s MVRV 30D exceeded 19% in the past, $LINK experienced significant corrections. Currently, LINK\u2019s MVRV 30D has reached 20%, implying a potential short-term correction before further upward movement.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p>On the contrary, if the $5.565 level doesn\u2019t provide reliable support, Chainlink\u2019s price may decline further. Thus it will potentially establish a new low and trigger selling pressure below this level. As per popular market analyst Michael van de Poppe, the LINK price could see a further retracement to $7.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Chainlink?src=hash&#038;ref_src=twsrc%5Etfw\">#Chainlink<\/a> will be seeking for a higher low, before finally breaking out of this range. <\/p>\n<p>$7 would be optimal, but I&#8217;m not sure whether we&#8217;ll be getting that. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/xbxr7MqaBY\">pic.twitter.com\/xbxr7MqaBY<\/a><\/p>\n<p>\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1708899394802864283?ref_src=twsrc%5Etfw\">October 2, 2023<\/a><\/p>\n<\/blockquote>\n<h3>Chainlink Unveils Data Streams<\/h3>\n<p>On Monday, October 2, the Web3 services platform Chainlink launched \u201cData Streams\u201d which aims at reducing network latency. Chainlink Data Streams integrates low-latency market data and automated execution to facilitate the creation of ultra-fast and user-friendly derivatives products. The term \u201clow latency market data\u201d refers to financial market information delivered without significant delays.<\/p>\n<p>This product adopts a \u201cpull-based\u201d data oracle approach, where high-frequency market data is consistently provided off-chain. Oracle reports are generated for each block, allowing users to retrieve them off-chain and subsequently validate them through their on-chain transactions. This differs from the push-based approach in which oracles proactively feed data to smart contracts at varying time intervals.<\/p>\n<p>By utilizing a pull-based system, Chainlink Data Streams mitigates latency issues, reducing the time required for data packets to traverse from one point to another. Latency is a common challenge in distributed networks, as message propagation among nodes often leads to delays in finalizing and synchronizing transactions. Speaking on the development, Chainlink co-founder Sergey Nazarov <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.prnewswire.com\/news-releases\/chainlink-announces-new-decentralized-computing-capabilities-with-functions-beta-and-automation-2-0-on-mainnet-301944023.html\">said<\/a>:<\/p>\n<blockquote>\n<p>\u201cData Streams not only enables DeFi (decentralized finance) protocols to support execution speeds and a user experience that rival centralized exchanges, but to do so without compromising on the core Web3 value of fair, transparent, and decentralized infrastructure\u201d.<\/p>\n<\/blockquote>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<div class=\"m-on mobiless\">\n<div id=\"social-section-new\">\n<p>\u2713 Share:<\/p>\n<p>                                  <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new wp_new\" href=\"https:\/\/api.whatsapp.com\/send?text=https:\/\/coingape.com\/chainlink-party-ends-as-link-price-tanks-4-key-levels-to-watch\/\" style=\"display: block\">  <i class=\"fa fa-whatsapp\"\/><\/a><\/p>\n<div>\n                                <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new tw_new_logo\" href=\"https:\/\/twitter.com\/intent\/tweet?text=https:\/\/coingape.com\/chainlink-party-ends-as-link-price-tanks-4-key-levels-to-watch\/\"><br \/>\n  <img loading=\"lazy\" decoding=\"async\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" class=\"mb-1\" alt=\"coingape\" width=\"30\" height=\"30\" data-lazy-src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\" class=\"mb-1\" alt=\"coingape\" width=\"30\" height=\"30\"\/><\/noscript><br \/>\n<\/a>\n                                <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>          <!-- \n\n<div class=\"m-on pl-2 pr-2\">\n            \n\n<div class=\"row\">\n            \n\n<div class=\"col-6 pr-2\">\n         \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-7-crypto-marketing-firms-of-the-year\/?utm_source=abovesidebartabnews&utm_medium=organicarticle\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\"http:\/\/www.w3.org\/2000\/svg\"%20viewBox='0%200%20834%20833'%3E%3C\/svg%3E\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" data-lazy-src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/15175104\/top_crypto_marketing_agencies.jpg\" ><noscript><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/15175104\/top_crypto_marketing_agencies.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/noscript><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                  \n\n<div class=\"col-6 pl-2\">\n                 \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-10-web-3-games-to-explore-in-2023-here-list\/?utm_source=priceanalysisbar&utm_medium=organicarticle\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\"http:\/\/www.w3.org\/2000\/svg\"%20viewBox='0%200%20834%20833'%3E%3C\/svg%3E\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" data-lazy-src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/23134356\/jpg_20221223_134223_0000.jpg\" ><noscript><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/23134356\/jpg_20221223_134223_0000.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/noscript><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                <\/div>\n\n\n        <\/div>\n\n                    --><\/p>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA160598\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/6d622b7613c3c79c72d94a2e7cffa3b2?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD160598\">\n<p>  The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<p><!-- \n\n<div class=\"container p-1 mb-3  mt-4 \">\n    \n    \n     \n\n<div class=\"Maintitle clgrn border-0\">\n               <span>Crypto Stories<\/span>\n                    \n                    \n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/\" class=\"viewAll p-0\">View all<\/a>\n                <\/div>\n\n\n     \n\n<div class=\"row mobileXS \">\n                     \n          \n\n<div class=\"item col-md-4\"> \n        \n\n<div class=\"Newseducation\">\n         \n\n<div class=\"Eduimg WduImg\">\n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/twitter-is-now-worth-just-33-of-elon-musks-purchase-price\/?utm_source=post&utm_medium=web-story\">\n            \n\n<div class=\"edIm StoryWebimg\"><img loading=\"lazy\" width=\"640\" height=\"853\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\"http:\/\/www.w3.org\/2000\/svg\"%20viewBox='0%200%20640%20853'%3E%3C\/svg%3E\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720\" decoding=\"async\" data-lazy-src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/05\/twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720.jpg\" \/><noscript><img loading=\"lazy\" width=\"640\" height=\"853\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/05\/twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720\" decoding=\"async\" \/><\/noscript><\/div>\n\n\n                \n\n<div class=\"Educontent\">Twitter is now worth just 33% of Elon Musk\u2019s purchase price <\/div>\n\n\n            <\/a>\n            <\/div>\n\n\n        <\/div>\n\n\n        <\/div>\n\n\n          \n          \n  \n              \n          \n\n<div class=\"item col-md-4\"> \n        \n\n<div class=\"Newseducation\">\n         \n\n<div class=\"Eduimg WduImg\">\n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/will-cramer-curse-strike-again\/?utm_source=post&utm_medium=web-story\">\n            \n\n<div class=\"edIm StoryWebimg\"><img loading=\"lazy\" width=\"640\" height=\"853\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\"http:\/\/www.w3.org\/2000\/svg\"%20viewBox='0%200%20640%20853'%3E%3C\/svg%3E\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"will_cramer_curse_strike_again_720\" decoding=\"async\" data-lazy-src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/05\/will_cramer_curse_strike_again_720.jpg\" \/><noscript><img loading=\"lazy\" width=\"640\" height=\"853\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/05\/will_cramer_curse_strike_again_720.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"will_cramer_curse_strike_again_720\" decoding=\"async\" \/><\/noscript><\/div>\n\n\n                \n\n<div class=\"Educontent\">Will Cramer Curse Strike Again? 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However, the Chainlink party seems to be coming to an end with the LINK price currently under a strong retracement and dropping by another 4% in the last 24 hours. At press time [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":167206,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-167205","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/167205","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=167205"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/167205\/revisions"}],"predecessor-version":[{"id":167207,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/167205\/revisions\/167207"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/167206"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=167205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=167205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=167205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}