LINK, PYTH rally as top Chainlink oracles secure over $50 billion in value

Chainlink and its oracles Pyth Network, WINKLink, Chronicle, RedStone, and Switchboard secure over $50 billion in assets.
The oracles support multiple blockchain networks and DeFi projects in the ecosystem.
LINK and PYTH gain nearly 3% on Tuesday, WIN adds nearly 1% and XNL falls 7%.

Chainlink (LINK) and its oracles Pyth Network (PYTH), WINKLink (WIN), Chronicle (XNL), RedStone and Switchboard have secured over $50 billion in crypto assets across blockchains, according to data from DeFiLlama. Most of the tokens linked to these oracles, which provide world data and price feeds to smart contracts and blockchains, are posting gains on Tuesday

LINK and Chainlink-based oracle projects gain

LINK gained 2.36% on Tuesday, with its network securing $23.33 billion across 405 blockchains, according to DeFiLlama. The oracles based on the Chainlink ecosystem include PYTH, WIN, XNL, Redstone and Switchboard, as seen in the chart below:

Chainlink, WINKLink, Chronicle, Pyth, Redstone and Switchboard secure over $50 billion in assets

Chainlink powers several DeFi projects by providing price and data feeds and secures value for applications across the crypto ecosystem. Chainlink ecosystem’s LINK and PYTH gain between 2% and 3% on Tuesday, WIN adds 1% while XNL loses 7%.

RedStone and Switchboard secure $5.72 billion and $2.14 billion in value across over 50 blockchains. Crypto market participants await RedStone’s token launch, although there is no official announcement for the expected launch date.

Chainlink announces RWA partnership

Chainlink recently partnered with Australian bank ANZ in the Monetary Authority of Singapore’s (MAS) project Guardian. T. LINK’s Cross-chain Interoperability Protocol (CCIP) technology will help secure the cross-chain exchange of real world assets tokenized on the network.

.@ChainlinkLabs is officially partnering with ANZ—a leading Australian bank with over A$1 trillion in AUM—in the Monetary Authority of Singapore's Project Guardian.#Chainlink CCIP will help enable the secure cross-chain exchange of tokenized RWAs. https://t.co/nlXJPJKjDv
— Chainlink (@chainlink) September 30, 2024

The development implies higher utility and adoption of LINK token.

Share: Cryptos feed

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.