Tag: Chainlink

$1 Billion Of Bitcoin On Ethereum Gets Major Boost As BitGo Adds Proof Of Reserves Via Chainlink

Decentralized finance (DeFi) has come into sharp focus this year amid a cambrian explosion of products, massive interest, and plenty of busts. Perhaps the most underappreciated development, though, has been the relentless suck of bitcoin onto the Ethereum protocol via tokenized representations on the blockchain. From under 3,000 bitcoin tokenized in May to over 120,000 ($1.3 billion) today, the trend has been breathtaking, with no pause even during the volatility and market correction experienced by most DeFi tokens in September.

The most popular method by far of using bitcoin on the Ethereum blockchain is WBTC, or Wrapped Bitcoin, an ERC20 token with 1:1 collateralization offered by custodial and prime brokerage services provider BitGo. WBTC is a centralized, custodial, and KYC/AML compliant way to

Read More

DOT soars past $5, flipping Chainlink for the 5th spot

  • Polkadot has, for the first time, made it to the top five with a market cap of $4.56 billion.
  • An increase in buying volume has supported the symmetrical triangle breakout.
  • If the resistance at $5.50 stays put, a reversal could ensue, sabotaging the gains made.

Polkadot has soared into the top five after displacing Chainlink. Data by CoinMarketCap shows DOT with a market cap of $4.56 billion. Polkadot entrance into the top five is not a done deal, considering Chainlink follows with a market cap of $4.51 billion. The question is, can DOT bulls sustain the uptrend?

At the time of writing, Polkadot is trading at $5.36, following an 18% spike over the last 24 hours. Breaking the stubborn resistance at $5.00, paved the way for gains eyeing $10. For now, trading above the seller congestion at $5.5 is the bulls’ priority because it will allow them to shift their

Read More