ChainLink adds new services to the crypto market

[MrSpasybo]

Oracle is an indispensable segment in the crypto market, especially when the DeFi trend has grown strongly in the summer of 2020, and ChainLink is the largest oracle project and leads the oracle trend^[1]. The popularity of solutions from ChainLink and the spectacular growth of LINK tokens in 2021 have made ChainLink a major force in this market, LINK's reputation is probably only 3rd and behind BTC and ETH.

With the emergence of the RWA trend, I thought that ChainLink would soon have news of collaborating with RWA platforms to provide its services to new assets in the crypto market, but Chainlink Labs surprised me with new partners and a new value/service for ChainLink.

ChainLink partners with Telefonica, a major telecom provider, to bolster security in Web3. This collaboration aims to combat SIM swap attacks, a prevalent hacking method, through Chainlink Functions and Telefonica's SIM Swap API.

This integration empowers Polygon apps to verify recent SIM changes, potentially thwarting fraudulent activities. The partnership paves the way for enhanced security measures like improved 2FA, identity theft protection, and automated transactions for financial institutions.

The feature will be implemented by Vivo, Brazil’s top carrier and a subsidiary of Telefonica in the South American country. Johann Eid, CBO at Chainlink Labs, stated that taking Telefonica’s API functions to the blockchain “opens up new use cases and greater security for our industry that ultimately better protects users and their assets”^[2].

Simply: ChainLink not only provides quote services for DeFi protocols, but also provides SIM status monitoring services for crypto protocols to improve security in Web3. This service from ChainLink may be the missing piece to protect users' accounts and assets in this market, this is something I have never thought of. ChainLink has a lot of potential value that we have not had the opportunity to explore. LINK token will be supported by new customers and demands like this. I believe that LINK token has a very long growth journey ahead!

What do you think about the new service from ChainLink? Will this new service + customers + demand help LINK token price continue to grow strongly in 2024 and 2025?
[1] Chainlink Labs: Pioneering Smart Contracts and Oracle Networks
[2] Telefonica Partners Chainlink to Mitigate SIM Swap Attacks in Web3

[KryptoBull]

Simply: ChainLink not only provides quote services for DeFi protocols, but also provides SIM status monitoring services for crypto protocols to improve security in Web3. This service from ChainLink may be the missing piece to protect users' accounts and assets in this market, this is something I have never thought of. ChainLink has a lot of potential value that we have not had the opportunity to explore. LINK token will be supported by new customers and demands like this. I believe that LINK token has a very long growth journey ahead!

What do you think about the new service from ChainLink? Will this new service + customers + demand help LINK token price continue to grow strongly in 2024 and 2025?

As far as I know, the income from oracle services is insignificant compared to Link's capitalization, meaning that Chainlink's business model does not really contribute to the price of Link tokens in the market. But Chainlink's story is truly fascinating as it has become an extremely important part of the crypto market, while continuing to delve into global payment services while working with traditional giants. The fact that Chainlink continues to provide a new service related to SIM swapping is just expanding their existing data supply field, which can be leveraged into positive news to push up Link's price stronger in the future.

Link price increased from 5 USD to 20 USD, now there is probably no force that can push Link price to the bottom again!

[MrSpasybo]

As far as I know, the income from oracle services is insignificant compared to Link's capitalization, meaning that Chainlink's business model does not really contribute to the price of Link tokens in the market. But Chainlink's story is truly fascinating as it has become an extremely important part of the crypto market, while continuing to delve into global payment services while working with traditional giants. The fact that Chainlink continues to provide a new service related to SIM swapping is just expanding their existing data supply field, which can be leveraged into positive news to push up Link's price stronger in the future.

Link price increased from 5 USD to 20 USD, now there is probably no force that can push Link price to the bottom again!

In this crypto market, a project with real revenue like Link is very rare, so even if the P/E is hundreds, it is not unusual. The value of a token is determined primarily by investors' expectations about the future, not necessarily the actual value or demand for that token in the present. Therefore, without needing information about Link's customer potential or expected revenue, just having good news about cooperation or new solutions will cause the LINK token price to increase sharply, demonstrating the positive psychology of investors in the market.

LINK price has accumulated for more than a year at the bottom. When it increases, it also re-accumulates and then continues to increase, showing that the growth trend is sustainable. Halving is coming, demand for Link is increasing, I also think that LINK price will have no reason to return to check the bottom again.

[Trongduy]

In this crypto market, a project with real revenue like Link is very rare, so even if the P/E is hundreds, it is not unusual. The value of a token is determined primarily by investors' expectations about the future, not necessarily the actual value or demand for that token in the present. Therefore, without needing information about Link's customer potential or expected revenue, just having good news about cooperation or new solutions will cause the LINK token price to increase sharply, demonstrating the positive psychology of investors in the market.

LINK price has accumulated for more than a year at the bottom. When it increases, it also re-accumulates and then continues to increase, showing that the growth trend is sustainable. Halving is coming, demand for Link is increasing, I also think that LINK price will have no reason to return to check the bottom again.

Great LINK: price increase, good news, new partners, new utilities. I'm not very familiar with technology, but I'm happy to see that Chainlink has more partners and customers. This is good news to promote LINK in the market so that the LINK token price continues to grow steadily this year. This service can be expanded to thousands of dapps in the market to protect users, avoid attacks from bad guys, even X can be applied to avoid important accounts of large organizations such as Sec and MicroStrategy were hacked again.

[MrSpasybo]

Great LINK: price increase, good news, new partners, new utilities. I'm not very familiar with technology, but I'm happy to see that Chainlink has more partners and customers. This is good news to promote LINK in the market so that the LINK token price continues to grow steadily this year. This service can be expanded to thousands of dapps in the market to protect users, avoid attacks from bad guys, even X can be applied to avoid important accounts of large organizations such as Sec and MicroStrategy were hacked again.

The services of oracles in this market are really necessary, especially with the development of on-chain transaction services such as DeFi, NFT, RWA. Unlike the demand-balanced trading pairs and arbitrage action on CEXs, independent protocols require token price information to operate, and the Oracle provides quotes for them. Although many oracles have appeared such as Band, DIA, API3, Pyth, Chainlink is still considered to dominate the oracle sector with an extremely large number of partners and customers.

The fact that Link has new utilities in protecting investors' accounts is truly attractive, helping to strengthen Chainlink's position, while also supporting the LINK token price to continue to grow in the coming cycle. Hope LINK can reach $200 as expected by the community ^^

[damsix]

As long as the service has a positive effect on Chainlink, the results will be positive for the Chainlink coin community.
I see that Chainlink's history is very strong towards collaborating with big companies like Google and Oracle, even though if we wanted to collaborate with them it would be very difficult.

As the OP said, Chainlink has the opportunity to exceed the price of 100 USD and we'll see, whether it can reach 100 USD in the near future or in the long term.
But as long as there is positive service from Chainlink coins to other ecosystems then this will definitely increase the price of Chainlink coins, even though it is not as high as we want.

[MrSpasybo]

As long as the service has a positive effect on Chainlink, the results will be positive for the Chainlink coin community.
I see that Chainlink's history is very strong towards collaborating with big companies like Google and Oracle, even though if we wanted to collaborate with them it would be very difficult.

As the OP said, Chainlink has the opportunity to exceed the price of 100 USD and we'll see, whether it can reach 100 USD in the near future or in the long term.
But as long as there is positive service from Chainlink coins to other ecosystems then this will definitely increase the price of Chainlink coins, even though it is not as high as we want.

To be honest, Chainlink's Oracle revenue is very small compared to the market cap of LINK token, which means that everything is just a narrative to attract investor attention and make LINK a potential and worth-investing token among tens of thousands of tokens in the market. I think we are at a stage where the token price only depends on faith rather than the project's revenue.

LINK is still a prominent token in the market and I believe it will not be abandoned in this cycle. $100 is just a near target, I think LINK holders can expect more