The most popular decentralised oracle service provider in the crypto community, Chainlink (LINK), is increasing its reach by regularly integrating with some of the most exciting protocols. Coinbase’s basic protocol has now merged Chainlink along with a number of other projects, including Lendvest, DSLA, the Banshees NFT project, and Crypto-Guilds, among others, according to a recent update provided by the protocol.
These connections are crucial for Chainlink since they significantly increase demand for its native cryptocurrency, LINK, which benefits all areas of growth.
The fact that each of the projects using the Chainlink oracle as support is still in the early phases of operation and that their expansion may result in new benefits for LINK is one distinctive element of these broad integrations.
For instance, take Base: the protocol will inevitably begin to accept a lot of decentralised apps (dApps), which in turn will probably demand more of the services provided by the Chainlink protocol. Given that the oracle supplier has not slowed down its broad-based relationships since the beginning of the year, the potential for development on LINK is significant.
Chainlink price outlook
According to the popular belief, these mergers will provide a significant growth opportunity for LINK and position it for a bullish surge.
As of the time of writing, LINK is trading at a price of $7.46, down 0.43% over the last 24 hours to reflect the general market downturn. Chainlink’s tenacity is further demonstrated by the fact that it has sustained a largely favourable upswing over the last seven days, growing by more than 4% during that time.
One of the most undervalued tokens in Web3.0, Chainlink is expected to have a more aggressive price increase in the near future thanks to its most recent agreements.
