Chainlink’s native token (LINK) is showing signs of a price reversal and potential short-term growth, according to on-chain analysis and bullish indicators. In the midst of a price decline, LINK has demonstrated signals of a potential rebound, with the TD Sequential indicator presenting a buy signal on a 4-hour timeframe chart.
Currently trading at around $12.85, down 2.54% over the last 24 hours, LINK is the 16th largest cryptocurrency by market cap, valued at $7.812 billion. The $13 level is seen as a crucial breakthrough mark for confirming the strength of the bullish trend on the LINK token.
In other news, Babypie, a liquid staking solution for Bitcoin, has integrated five Chainlink products, including Functions and CCIP, to enhance its platform. Additionally, Chainlink’s Proof of Reserves (PoR) has been highlighted for improving security and transparency for Wenia’s Colombian Peso stablecoin.
Chainlink co-founder Sergey Nazarov emphasized the importance of Proof of Reserves in promoting openness and security within the crypto space. He stated that the display of reserves supporting stablecoins ensures that no new coins are generated until the reserves in the off-chain world or bank account equal the newly minted coins, creating a more secure RWA/Stable coin.
Overall, these developments point towards a positive outlook for Chainlink’s LINK token, with potential for short-term growth and increased security measures within the crypto ecosystem.
