LINK price locks in 36% gains following Ethereum layer-2's Chainlink integration

LINK price locks in 36% gains following Ethereum layer-2's Chainlink integration


Chainlink (LINK) emerged as one of the best cryptocurrency performers on Sep. 6 as it jumped 8.25% against the U.S. dollar.

In detail, the LINK/USD exchange rate reached $36.35 for the first time since May 20, months after bottoming out near $13.45, thus recovering by more than 170% altogether. At the same time, its recent bout of buying saw the prices chalking in about 36% month-to-date returns.

Ecosystem growth

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As it happened, Optimism Ethereum announced on Sep. 1 that it had integrated Chainlink’s market-leading decentralized oracle solutions to its Ethereum layer-2 services. As a result, LINK, which serves as a payment and staking token inside the Chainlink ecosystem, rose by 36% on the prospects of seeing higher interim demand from Chainlink users.

The same fundamentals had assisted LINK investors in closing 2020 at a 540% profit.

A booming decentralized finance (DeFi) space and its dependency on Chainlink to secure live data feeds pushed the LINK demand higher among users and speculators alike. As a result, Chainlink’s

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