Chainlink Sees 1,900 New Addresses as Plasma Joins to Boost Stablecoins

  • Chainlink’s network added 1,963 new addresses in September, signaling increased adoption.
  • Plasma integrated Chainlink’s services, attracting $5.5B in stablecoin supply in one week.
  • Aave on Plasma now holds over $6.2B in deposits, benefiting from Chainlink’s data solutions.

Chainlink has been showing consistent growth, with an increase of 1,963 new addresses in its network throughout September. Ali Martinez’s data from Glassnode show this surge aligns with a gradual rise in LINK’s price, which reached $22.59 on the same day. 

The graph shows steady new address activity over the month, with noticeable spikes in the first week and at the end of September. 

image 67
Source: TradingView

However, an increase in new addresses indicates that more individuals and projects are actively engaging with Chainlink. As its decentralized oracle network gains traction, it could pave the way for broader adoption across various sectors. 

At press time, LINK is priced at $22.24, showing a slight dip of 1.28% in the last 24 hours. Despite the minor dip, the general upward trend reflects the overall positive sentiment around Chainlink’s long-term prospects.

Plasma Joins Chainlink Scale to Enhance Ecosystem

Meanwhile, Plasma, a high-performance layer-1 blockchain built for stablecoins, has joined the Chainlink Scale program. The collaboration aims to boost Plasma’s stablecoin ecosystem, providing secure and efficient solutions for developers. 

Plasma has already achieved over $5.5 billion in stablecoin supply within just one week of its launch, with Chainlink acting as the official oracle provider.

Plasma integrates Chainlink’s Cross-Chain Interoperability Protocol (CCIP), Data Streams, and Data Feeds from day one. These services provide reliable, real-time data that enhances the security and functionality of the platform. 

By leveraging Chainlink’s robust oracle network, Plasma is positioned to foster the next generation of stablecoin applications. Aave, now live on Plasma, has seen impressive results, attracting over $6.2 billion in deposits. 

This collaboration is expected to drive further innovation in stablecoin applications, with both platforms working to support new use cases and advancements in decentralized finance (DeFi).

Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.

Hot this week

Crypto Markets Near Bottom as Liquidity and Cycles Align

Crypto markets peaked in December 2024 and may be...

Chainlink (LINK) Holds Accumulation Zone as Analysts Target $100 Price

LINK trades inside $5.60–$7.64 bullish order block with HTF...

PEPE Drops 73% as Top Wallets Accumulate 23 Trillion Coins

PEPE lost 73% in market cap since peaking nine...

Ethereum Tests $2K Support as Market Eyes Drop Toward $1.5K

Ethereum trades near $2K, sitting at key long-term weekly...

Bitcoin Rejects $68K Level and Slides Toward Key Support

Bitcoin tapped $68.5K liquidity and rejected, confirming bearish continuation Current...

Topics

Crypto Markets Near Bottom as Liquidity and Cycles Align

Crypto markets peaked in December 2024 and may be...

Chainlink (LINK) Holds Accumulation Zone as Analysts Target $100 Price

LINK trades inside $5.60–$7.64 bullish order block with HTF...

PEPE Drops 73% as Top Wallets Accumulate 23 Trillion Coins

PEPE lost 73% in market cap since peaking nine...

Ethereum Tests $2K Support as Market Eyes Drop Toward $1.5K

Ethereum trades near $2K, sitting at key long-term weekly...

Bitcoin Rejects $68K Level and Slides Toward Key Support

Bitcoin tapped $68.5K liquidity and rejected, confirming bearish continuation Current...

Solana Price Tests Support While Resistance Near $90 Holds

Solana has not formed a five-wave structure, keeping further...

LTC’s NVIDIA Fractal: 1 Powerful Signal for a Massive Pump

Litecoin is currently completing a multi-year consolidation base that...

Altcoin Dominance: 1 Positive Pivot for a Giant Breakout

Altcoin dominance is currently compressing at the tip of...
spot_img

Related Articles

Popular Categories

spot_imgspot_img