Cardano Has Officially Gone Live On Chainlink Data Stream
The recent integration of Cardano’s ADA into Chainlink’s Data Streams project has sparked a surge in adoption for the Cardano network. This integration allows users to access both on-chain and off-chain data related to ADA, along with several other assets.
Chainlink Added to Cardano and Other Assets to Data Streams
Chainlink’s Data Streams now cover 52 different assets, including major cryptocurrencies like Bitcoin and XRP. Launched in 2023, Chainlink’s Data Streams provide low-latency, high-frequency off-chain data delivery, allowing real-time retrieval of asset price data without delays. This technology facilitates on-chain transaction settlements.
The adoption of Chainlink’s Data Streams has been notable, with the recent decision by the Synthetix Spartan Council to integrate the Data Streams into Synthetix version 3 on the Arbitrum network being a significant milestone. The Price Feed system by Beefy Finance also showcases the diverse utility that Chainlink offers.
The inclusion of ADA in Chainlink’s Data Streams reflects the widespread adoption of the token. ADA remains one of the leading assets in the cryptocurrency space, with a market capitalization of $12.5 billion.
The transaction volume for ADA has notably increased, particularly in large transactions, indicating ongoing significant movements involving the asset. These developments suggest a bullish momentum surrounding ADA.
In addition, positive sentiments about the Cardano network are reinforced by the forthcoming Chang upgrade scheduled for September 1, which is anticipated to enhance the blockchain’s functionality and introduce a new governance system.
Price Action
As for the price of ADA, it currently stands at $0.3479, reflecting a slight decrease over the past 24 hours and a decline of nearly 12% over the past seven days.
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