Chainlink suddenly became a leader …

Chainlink suddenly became a leader …



Chainlink Unexpectedly Becomes DeFi Market Leader According to CoinMarketCap

  • LINK became the leader in the DeFi asset market according to CoinMarketCap.

  • Many fundamentally disagree with the decision and accuse CMC of venality.

  • The situation is complicated by the fact that there is still no exact definition of the DeFi asset.

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The cryptocurrency community has expressed doubts about the cleanliness of the listing process on CoinMarketCap.

Chainlink (LINK) cryptocurrency project ranked first in the list of Decentralized Finance (DeFi) Decentralized Finance (DeFi) – this is financial services, technology-based blockchain that offer users access to open, effective and … More) by market capitalization according to the resource CoinMarketCap (CMC).

Chainlink suddenly became a leader ...

The project overtakes such giants of the DeFi-market as Maker, Compound and Aave.

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However, almost immediately after the listing of LINK in the list of DeFi assets in the cryptocurrency community, disputes arose regarding LINK’s belonging to the DeFi market..

Blurred boundaries

A user with the nickname kairepaire wrote on Reddit that due to the lack of an accurate definition of the DeFi asset, CMC can just as well regard stablecoins. With … More USDT as a DeFi asset, which is fundamentally wrong.

Chainlink suddenly became a leader ...

Why is Chainlink a DeFi token? Is it because oracles can use data from outside the [blockchain] ETH into the current DeFi protocol on the network? Just because of this, I would not call it [LINK] DeFi-token. But I think there is no official definition [what is DeFi]. With such vague parameters, perhaps USDT will also be added to the list soon as it can be borrowed / lent under the actual DeFi protocol, “wrote kairepaire.

In an interview with Cointelegraph, Gerald Chee, head of research at CoinMarketCap, denied any speculation that Chainlink would buy a spot on the DeFi token list..

“The criticism that ‘Chainlink may have paid CMC to rise in this category’ is unfounded and unsubstantiated,” Chi said..

Skepticism in the community is also based on the fact that CMC was bought by the cryptocurrency exchange Binance, which also became the leader in the list of exchanges almost immediately after purchasing the service..

In the interests of the market

Despite criticism and allegations of fraud, Chainlink is actively promoting its services, forging new partnerships with large tech companies.

Recently, a subsidiary of the German giant Deutsche Telekom, T-Systems, even became the official sponsor of the nodes in the Chainlink oracle network.

“By providing real data to the Chainlink network, T-Systems MMS participates in the so-called ‘generalized mining’, where it provides IT services to the blockchain network, while receiving payment in the form of digital assets for reliable operation,” T-Systems said.

Against the backdrop of positive news, the LINK cryptocurrency rate in the LINK / USD pair reached an all-time high of $ 8.70 with a capitalization of $ 3 billion.

At the time of writing, the LINK / USD price is $ 7.89.

Chainlink suddenly became a leader ...

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