Injective Integrates Chainlink to Deliver Ultra-Fast, On-Chain Data Feeds
- Injective has announced the integration of Chainlink (LINK) Data Streams to ensure its developers enjoy one of the fastest times-to-market.
- The price of LINK has, however, declined below a crucial support level of $13 amidst the broad market pullback.
Injective is the latest to integrate Chainlink (LINK) Data Streams as part of its effort to revolutionize the network and create a better environment for developers to operate. This, interestingly, occurred on the first day of Injective EVM’s mainnet launch.
This deployment, coupled with the Chainlink integration, on-chain financial modules, and the iBuild AI dApp creator, is expected to ensure developers enjoy one of the fastest times-to-market in the industry. As noted in our earlier publication, Chainlink Data Streams is known for its low-latency market data with up to sub-second delivery.
On top of these, using the Chainlink Data Streams in Injective would improve Institutional reliability, according to the official announcement. This includes collaborations with Institutional data giants like ICE Markets and FTSE Russell. Injective would also benefit from full programmability.
For now, Injentive’s flagship Decentralized Exchange (DEX) Helix Markets is reported to be the first Decentralized Application (DApp) on the network to upgrade to Data Streams as its official Oracle solution to power the Real World Assets (RWA) and its crypto.
Chainlink Data Streams and the US Equities
The Chainlink’s Data Streams had been heavily embraced by several platforms and markets, including the US Equities and Exchange-Traded Funds (ETFs).
As detailed in our earlier news story, Data Streams was said to have been integrated to provide real-time and high-throughput pricing for the likes of SPY, CRCL, QQQ, NVDA, AAPL, MSFT, etc. According to reports, it is now available on about 37 different blockchain networks.
In a report, Johann Eid, Chief Business Officer at Chainlink Labs, highlighted that a recent collaboration with Kamino, GMX, and two others could accelerate the plan to bridge the gap between traditional finance and the decentralized finance world.
According to our earlier update, Jupiter Exchange has also integrated Chainlink Data Streams to enhance accurate and real-time pricing in its perpetual trading. Commenting on its recent initiatives, the Chief Product Officer of Chainlink Labs, Apurva Joshi, disclosed that the company has been powering protocols and markets, and now nations.
Despite these developments, the price of LINK is struggling to hold above a crucial support level as it falls by 11% in the last 24 hours, 14% in the last seven days, and 30% in the last 30 days. At the time of writing, Chainlink was trading at $12.3.
As indicated in our earlier coverage, renowned analyst Ali Martinez has cautioned that the price range between $13 and $26 is a “no trade zone.” According to him, traders should remain patient and wait for a clear breakout.
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