Polymarket's Trading Volume Triples After Chainlink Integration

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 2 days ago

Should l Buy LINK?

Volume Surge: Polymarket's average daily trading volume has tripled to $153 million following the integration of Chainlink data feeds, indicating strong demand and activity in its short-duration markets.
Outstanding Market Performance: After integrating Chainlink, Polymarket's short-term markets have surpassed $4 billion in total volume, with five-minute products generating over $200 million in their first week, showcasing widespread acceptance of the new offerings.
Enhanced Data Accuracy: The use of Chainlink's real-time price data has significantly improved the speed and reliability of market settlements on Polymarket, reducing credibility risks associated with stale data and attracting a broader range of retail and institutional traders.
Strategic Upgrade: Since mid-2024, Polymarket has aggressively expanded its short-duration products, and the integration of Chainlink represents a crucial infrastructure upgrade aimed at supporting higher trading activity and enhancing user experience.

Get Real-Time Alerts for Any Crypto Movement

Monitor assets like LINK with instant alerts on price breakouts and whale movements. Don't let a 24/7 market leave you behind.

Technical Analysis for LINK

Technical Sentiment Analysis for Chainlink (LINK). As of , Chainlink (LINK) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 2 indicators are flashing buy, while 5 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for LINK stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, LINK is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Chainlink (LINK) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	7.489	7.98	8.439	8.93	9.389	9.88	10.339
Fibonacci	7.98	8.343	8.567	8.93	9.293	9.517	9.88

About LINK

Founded in 2017, Chainlink is a blockchain abstraction layer that enables universally connected smart contracts. Through a decentralized oracle network, Chainlink allows blockchains to securely interact with external data feeds, events and payment methods, providing the critical off-chain information needed by complex smart contracts to become the dominant form of digital agreement.The Chainlink Network is driven by a large open-source community of data providers, node operators, smart contract developers, researchers, security auditors and more. The company focuses on ensuring that decentralized participation is guaranteed for all node operators and users looking to contribute to the network.To learn more about this project, check out our deep dive of Chainlink.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

GET FREE REAL TIME NOTIFICATIONS

Stock Monitor for LINK?

Get Started Free

FREE STOCK RECOMMENDATIONS DAILY

Stock Bullish Tomorrow

Get Started Free

70% BACKTESTED ACCURACY!

Should I Buy LINK?

Get Started Free