Get started

Oracles

Chainlink Price Channel Continuation 2021Next chart is devoted to one of my favorite Cryptocurrency and Blockchain Projects so far. Chainlink and its native Token $LINK (Chainlink). Initially, my first idea of this Chart was tweeted on the 01.June on Twitter (Find below). Chainlink is pursuing a clear Price Channel started in 2020. It's noticeable, that the MACD in combination with RSI Indicator working pretty well for great price entries. I'm a long term investor and always hunting for great Entry Points. Now, Chainlink Price is experiencing a hard down movement but holding the Line above the lower Price Channel Zone. Just a look to the MACD and RSI , a bit of downtrend could be possible to close the RSI GAP (Touch of oversold zone). If the Crypto Market and especially Bitcoin recover faster than expected , certainly Chainlink will move up as well. Comparing the former down trend cycles, after each bottom confirmed by MACD & RSI, 100 days of uptrend could follow. So let's see, what the Market Quarter End Close will have in the bags in terms of results, because we all know, that Traditional Markets are also affecting Crypto Markets in both, positive as well as negative. No financial advice, no investing advice. Just thoughts and ideas. Call of Crypto, out!
Long
by David_Awookee
RLC/USDT 1hr - Breakout Imminent! Oracle Szn?The only doubt I had about this set up was the lack of volume; however, RLC is an oracle and oracles like to run together. Not how Chainlink is ignoring the dip, which indicates upside for RLC and other oracles. I believe this will breakout with great upside once BTC chills out - it has been holding the bottom range throughout these dips. I have been accumulating at the bottom of this pattern with a SL at invalidation around $6.30-$6.50 - depending on your risk tolerance. As always, keep and eye on BTC and DYOR. Cheers
by chadbchilln
2
DIA 77% Gain to New ATH @$7Oracle Season is here, DIA 77% Gain to New ATH at the 161.80% Fibonacci level @ $7.6. On the 2nd March the swing call script triggered a strong buy signal as the 13 EMA crossed up above the 50 SMA which was the start of this parabolic impulsive move. DIA has since grown 178% from $2 to a new ATH $5.77 on the 05/05/21. Since reaching a new ATH on 05/04/21, DIA has retraced down 48% and over the last month DIA was in a accumulation period trying to find support from the new ATH forming a Double Top. DIA failed to hold support at the new ATH, on 18/03/21 the 13 EMA crossed down Below the 50 SMA signalling a strong sell signal with profit takers still in the market, the downward selling pressure continued with the price breaking below the 200 SMA showing some signs of bearish momentum but as we have such strong fundamentals from this project and the whole market, it is clear that we are still in a bullish continuation pattern. We expect a 80% move similar to that from the 25th to the 5th April from the current set up over the next few weeks as we see more interest in oracles back in the market. Use the Buy Zones to Map your Buys, Happy Trading :)
Long
by CryptocurrencyMagnet
BAND IN A MASSIVE CUP-AND-HANDLE FORMATION & IT'S PATH TO $50!On the daily chart, BAND is living in a picture perfect cup and handle formation. If you pull up this formation in a search engine, you will see what BAND's daily chart looks like. BAND being one of the most popular protocols aside from LINK & usually holding it's price at around 50% of LINK's price, it is set to go higher. Once it gets through ATH to $25-30, I don't think it will stop until $50-ish. BAND is also a relatively low cap coin, 10x less supply than LINK (!!!) And yes, this also means I believe LINK could get to around $100 once the currently often mentioned "Oracle season" takes place, maintaining the approximate 2x price of BAND. While I don't think BAND will overtake LINK, I sure hope it will give it run for its money. Of course, all of this is subject to the mood swings of the big boss, Mr.Bitcoin. Full disclosure, BAND is one of my most favorite coins of 2020/2021 since $4-5 and paid my rent many times. Not financial advise; I am just the dude typing stuff for free :) Don't listen to me - this is my second idea ever! May we all manifest lots of wealth.
COINBASE:BANDUSDLong
by Wealthmanifest
4
$LINK 1D bullish expectations 150k-240k satsConservatively, all time horizontal channel in blue provides optimistic floors for link going into 2021 and beyond, with a current trend in range of the pink trend, creating a possible C&H scenario with 150k - 244k sat value in reach. Expect a maintenance of bullish range if we brake above/bounce off green line in coming weeks. Reasons to be bullish (besides the out-standing all time performance of Link against USD, which has consistently printed higher lows for long-hodlr's over the past four years) . ◘ Chainlink Whitepaper 2.0 has released ◘ Close relationship with Arbitrum/Offchain Labs , on forefront of delivering L2 scaling solutions for $eth gas inflation ◘ Close relationships with leaders in DeFi, Bancor, Aave, Yearn, Sushi, Synthetix ◘ Chainlink Hackathon winners have been announced, some of which will likely go on to be major DeFi players (some names from previous bullet came out of chainlink/smartcon summit incubators as well). ◘ Continued close relationship with World Economic Forum visions for the future of Decentralized technology ◘ Sergey has been glowing recently in public interviews, having stated he is attracted to this technology for the "Lack of bullshit", in reference to recent embarrassment of Legacy systems locking user funds in the WSB/GME pump spectacle, as well as suggesting that we should expect DeFi to "add a zero" as it grows towards a 500b total marketcap ◘ Chainlink remains the de-facto, premiere oracle solution in the space, with over 500+ integrations, 10's of billions in user funds secured in #DeFi protocols powered by Chainlink ◘ Staking will create a virtuous cycle for the entire chainlink ecosystem, compelling the price of Link to steadily, continually rise into the long-term future as it secures more value, which creates more security, allowing for higher and higher value smart contracts to be secured up to as high as they would need to be for supplying an industry standard, world class oracle solution capable of securing the highest value contracts in the age of data.
Long
by LinkHermit
1
SHORT-TERM SHORT link(Chainlink) /USDT/(daily timeframe)Hello traders and investors 🙂👋! Today I was checking out some CHAINLINK, and I noticed I am seeing a similar pattern to BTC. I suspect we are headed down in the near future and will eventually intersect with the Purple trendline drawn, and then shoot up ⏫ to create a new ATH (all time high, at ~$45.56.)💜🤔✔↗ At that time it will be very important to watch closely and pay attention to market news etc..👀😃🕞📝🌎📌📅 CHAINLINK has a large CMC(Coin market cap) at 16.6B🤯, but it is a very desired Oracle network😮😌👌 LINK is one of the most successful data providers to many blockchains (through smart contracts,) of real world data 🌎✔👍⛓🔗👏🆗😃 Let's see if the market can maintain it's insane bull run🐮.. with this exponential virtual boom that's happening across the board(BTC, and many digital assets, NFT's, virtual land, etc.. have gained attention more than ever before, during this technology driven era!)✌🎰🖥📴📳📷💰☣☢ I always recommend looking at multiple charts/researching in depth before investing large amounts of money! 🆗💲🧐 🛑🛑🛑This is not financial advice🛑🛑🛑 Above are approximate targets based on fibs and major trend-lines etc. I always recommend looking at multiple charts when making a big investment, thank you! Always have a stop loss ✋🛑💲 set Any thoughts 💭💡, questions 🙋‍♀️🙋‍♂️❓, good 👍, bad👎, happy 😄 or sad 😥, in the comments always welcome. Thank you for reading and trade safely!!!! Jazerbay ☯
Short
by jazerbay
21
BAND/USDT Long Term PictureSitting at ~300 mil mcap, BAND has underperformed the market since January along with the entire oracle sector, and because of that it's really not been mentioned much. Zooming out though we can see it's been ranging within an accumulation range, close to the previous ATH. Accumulation, in a bull market, at an ATH is when you want to buy; as this is when large players are building their positions. TA wise a bullish divergence is forming, stoch has reset, and ichimoku is bullish. We can also see there is a clear long term parabola in formation. I have high confidence that this parabola will play out, and as such I've taken a large position. However, it's important to understand that when you're trading charts on high time frames you often will be waiting extended periods for a breakout and may be forced to be underwater for a bit. Don't be concerned with the intraday price action. This coin could easily trade up to a $3 billion mcap which would be a 10x from here Good luck.
Long
by gumbowizard
2
LINK in Coiled Wedge PT $36Ever since LINK has broken out above its ATH it has consolidated in a very bullish coiled wedge pattern. Something truly extraordinary is about to occur in LINK and you're on the precipice of the new beginning that is driving all of the innovation and creative forces inside DeFi's ability to interoperate with the rest of the world. blog.chain.link Some Use Cases that LINK enables: “Derivatives smart contracts deployed on Opium Exchange are connected to Chainlink’s price reference data feeds, reading pricing data at execution of the derivatives contract to calculate payouts. By virtue of Chainlink’s open visualizations of the Price Reference Data oracle networks, traders on Opium Exchange can independently verify the accuracy and on-time delivery of prices at contract maturity.” –Opium + Chainlink integration Decentralized Finance Money is the common medium used today to value and exchange assets. Financial products provide different vehicles in which people can maximize the value of their money via different strategies like hedging, speculating, earning interest, collateralizing loans, and more. However, traditional finance is often gated, wherein well-capitalized entities have disproportionate control over the issuance of money and the creation/offering and settlement of financial products. The result is a lack of universal accessibility to certain financial products and the introduction of counterparty risk, where the larger entity has more influence on whether the financial product is fairly honored according to the pre-agreed upon terms. Blockchains and smart contracts bring deterministic execution to financial products, eliminate moats around financial product creation, and provide tamper-proof monetary policy for on-chain assets. Chainlink oracles play a critical role in creating advanced smart contracts representing financial products and monetary instruments, particularly those that execute based on market data like FX rates, interest rates, asset prices, indices, and more. Stablecoins Stablecoins are on-chain tokens that are pegged 1:1 to fiat currency, commonly the US dollar. They provide users with the ability to hold a non-volatile cryptocurrency. While centralized stablecoins are backed by fiat in an off-chain bank account, decentralized stablecoins are commonly overcollateralized by on-chain cryptocurrencies and require price data to maintain full collateralization (e.g. a user’s collateral is worth over 150% the value of their loan). DeFiDollar is an example of a decentralized meta-stablecoin (a stablecoin backed by multiple stablecoins) that uses Chainlink Price Feeds to track the price of the underlying assets including sUSD, USDT, DAI, and USDC. In the event that one or multiple of these tokens deviate from their 1:1 USD peg, thus causing DUSD to also lose its peg, a rebalance is triggered between the four reserves in order to preserve the dollar parity of DUSD. Bonds Bonds are a financial agreement that enables the raising of short term capital by issuing debt to be paid back at a later date. Traditional bond contracts can be replicated as an automated smart contract through the use of Chainlink oracles, which provide the data required for settlement such as interest rates, debt scores, fiat payments, and more. Chainlink has already demonstrated such capability with a POC with SWIFT, where oracles were used to aggregate interest rates from five major banks, fetch debt score data from S&P, and generate an interest payment in the form of an ISO20022 SWIFT payment message. As a multi-trillion dollar industry, bringing bonds onto the blockchain can greatly reduce counterparty risk and lower operational costs across the board. Tokenized Portfolio Management A unique use case for smart contracts are non-custodial “smart portfolios” that automatically rebalance user portfolios by executing trades on their behalf based on preset conditions. This provides users with advanced financial products that programmatically manage investments based on the current market wide price of specific assets and tokens. These trading strategies can be tokenized, allowing users to transfer and use these tokens within other smart contract applications. Tokensets is one such example of a protocol that uses Chainlink Price Feeds to generate various “Sets,” tokenized positions that execute trades on the behalf of users. These Sets are based on Technical Analysis (TA) metrics such as the RSI or moving averages, designed to catch key price action trends. Additionally, users can use their Set tokens as collateral within other protocols, such as the Aave money market, to gain additional capital efficiency. Real-World Assets As discussed in our recent education piece, tokenized real-world assets are among the most promising use cases for blockchain and smart contract technology. They take real-world assets and represent them on the blockchain as a token. Compared to traditional assets, tokenized assets benefit from global accessibility, permissionless liquidity, on-chain transparency, and reduced transactional friction. DeFi Money Market (DMM) is a project that represents real-world assets on-chain and allows users to invest in the revenue streams of these assets through mTokens, which pay a stable fixed yield to holders. DMM uses Chainlink oracles to calculate the valuation of its real-world assets, which initially consist of car equity loans, before minting any new mTokens to ensure full collateralization by assets existing off-chain. Proof of On-Chain Reserve Wrapped cross-chain assets—cryptocurrencies/tokens native to one blockchain that are locked into a contract and then “unlocked” on another blockchain—are becoming increasingly popular due to their ability to increase the collateral types available within the DeFi ecosystem. However, in order to ensure the integrity of DeFi applications supporting wrapped asset deposits, Proof of Reserve reference contracts can be used to supply data regarding the true collateralization of these on-chain assets. Two protocols using Chainlink to power Proof of Reserve reference feeds include BitGo’s WBTC and Ren Protocol’s renBTC, representing over 90% of the wrapped Bitcoin on Ethereum and representing billions in USD value. These Proof of Reserve reference feeds provide DeFi protocols with the data they need to autonomously verify collateral reserves and swiftly protect user funds during an undercollateralization event. Proof of Reserve reference feeds can also be used to track the collateralization of assets beyond cross-chain tokens includes stablecoins and real-world commodities, further increasing the collateral available within DeFi. Proof of Off-Chain Reserve Bringing real-world assets onto the blockchain provides a large potential to expand the economic activity of DeFi, as seen with the adoption of fiat-backed stablecoins. However, this requires the underlying collateral to be held by a central custodian, disconnecting the on-chain tokenized representation from the actual off-chain asset itself. Through Chainlink Proof of Reserve, smart contacts are able to autonomously audit the collateralization of real-world asset backed tokens, protecting users during black swan events. An example of this is the TUSD Proof of Reserve reference feed that provides DeFi applications with data regarding the true amount of US dollars backing the stablecoin TUSD held by TrustToken’s off-chain escrowed bank accounts as reviewed by Armanino, an independent top 25 auditing firm in the United States. This collateralization data can be checked against the total amount of circulating TUSD tokens on various blockchains, as reported by the complementary TUSD Proof of Supply feed, to determine the collateralization of TrustToken’s tokenized USD. Decentralized Exchange Decentralized exchanges (DEXs) are on-chain trading venues that allow users to trade cryptocurrencies without taking custody of those assets or giving out personal information to a centralized institution. As DEXs grow in popularity, the desire for traditional trading strategies and advanced features currently available on traditional centralized exchanges grows in importance. 0x Relayer Bamboo Relay is an example of a decentralized exchange that uses Chainlink Price Feeds to power stop-loss order functionalities—conditional trading functions based on the price action of an asset. With aggregated market data from Chainlink, each trader’s stop-loss order will only be executed when the market-wide price of the asset surpasses a certain predefined threshold, preventing market manipulation attacks from falsely executing trades. Staking Many protocols rely on some form of staking—the locking of cryptocurrency collateral into a smart contract—in order to secure their crypto-economic networks. Staked collateral might help signal where rewards should be proportionally distributed, or it can be “slashed”—programmatically taken under certain conditions as a means of disincentivizing malicious behaviors. For instance, AdEx requires its validator nodes to stake collateral and maintain high availability. AdEx uses Chainlink oracles to monitor node uptime and trigger the slashing of collateral should any node fall below the uptime requirements. This ensures that only high-quality node operators participate in the network, which in turn enhances the security of the entire platform. Rebasing Rebasing is a new financial primitive within DeFi that involves the act of adjusting the supply of a token as a means to maintain its peg to a specific reference asset, such as the US dollar. If the price of the token is above its peg during the rebase, then more tokens are minted and given proportionally to all token holders with the goal of lowering the per token price. Conversely, if the price of the token is below the peg, then a certain percentage of each holder’s tokens are burned to raise the per token price. Ampleforth is an example of a protocol that uses Chainlink Price Feeds to power its native rebasing functionality. The total supply of AMPL is rebased on a daily basis to track the current Consumer Price Index (CPI) rate, an index from the Bureau of Economic Analysis on the current value of the inflation adjusted 2019 US dollar. Both the volume weighted average price of AMPL and the CPI index is provided to the Ampleforth protocol by Chainlink oracles. Yield Farming Yield Farming is a new financial primitive within the DeFi ecosystem that is used to bootstrap liquidity and facilitate the fair distribution of a protocol’s governance tokens. In most yield farming applications, users who provide liquidity to the protocol are granted a reward in the form of the protocol’s native governance token, serving as a growth subsidy. Two protocols using Chainlink oracles for their Yield Farming mechanism are Plasm and StrongBlock. Plasm uses Chainlink price oracles to determine the amount of value users have locked into the protocol and distribute rewards accordingly, while StrongBlock calculates the USD value locked in Community pools at the end of every 24 hours.
COINBASE:LINKUSDLong
by ich1baN
21
Band Protocal (BAND) Break Out Retesting All Time Highs SoonIn the oracle realm of the cryptocurrencies Band Protocol is the second largest oracle coin right under the leader Chainlink (LINK) that is bound to be picked up and re-test those all time highs. Band Protocol has approached a very important level today as it has slightly broken out of $11.50 resistance zone that has held strong since September 4th 2020. We traded for at a high of $11.80 before coming back down to current levels. Today we hit the 0.5 Fibonacci Retracement level and now we're trekking towards the 0.618 Fibonacci level putting us at around $12.25 for our next target. We also hit a daily bullish divergence on the MACD as well indicating we may be positioned for a strong breakout within the next week or two. Band Protocol only has a market capitalization of around 230 million dollars while Chainlink's is around 8.9 billion dollars. As being the second biggest leader in the oracle space Band Protocol will be poised for a lot of growth this year especially as the use case for oracles continues to accelerate. Oracles allow ways for a blockchains and smart contracts to interact with external data. Oracles will be an essential part of the evolution of cryptocurrencies and growth of Decentralized Finance (DeFi). Band Protocol is the second biggest Oracle, still well under a 1 billion dollar market capitalization, and has a Coinbase listing. Keep Band Protocol on your radar for 2021. Current Support Level: $9.00 Current Resistance Level: $11.80 Cheers! Much peace and love!
COINBASE:BANDUSDLong
by peacefuljustin
4