{"id":390505,"date":"2022-01-06T21:30:00","date_gmt":"2022-01-06T18:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/oracle-tokens-turn-bullish-as-blockchain-projects-focus-on-interoperability\/"},"modified":"2022-01-06T21:30:00","modified_gmt":"2022-01-06T18:30:00","slug":"oracle-tokens-turn-bullish-as-blockchain-projects-focus-on-interoperability","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/oracle-tokens-turn-bullish-as-blockchain-projects-focus-on-interoperability\/","title":{"rendered":"# Oracle tokens turn bullish as blockchain projects focus on interoperability"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2bea20a4638\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2bea20a4638\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/oracle-tokens-turn-bullish-as-blockchain-projects-focus-on-interoperability\/#Chainlink_secures_new_partnerships\" >Chainlink secures new partnerships<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/oracle-tokens-turn-bullish-as-blockchain-projects-focus-on-interoperability\/#Band_Protocol_launches_on_Celo\" >Band Protocol launches on Celo<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Oracle tokens turn bullish as blockchain projects focus on interoperability <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>2022 looks to be a transformative year for the cryptocurrency ecosystem as the focus on interoperability between siloed blockchain networks comes to the forefront and a multitude of projects announce plans to interconnect their platforms with other protocols.\u00a0<\/p>\n<p>One sector of the crypto ecosystem that will play a vital role in ensuring smooth communication and interaction between networks are oracles projects like Chainlink (LINK) and Band Protocol (BAND). <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/432a6246-87e7-46c1-bac5-70ba7b2686d3.png\"><figcaption style=\"text-align: center;\"><em>Top 8 oracle projects by market capitalization. Source: Messari<\/em><\/figcaption><\/figure>\n<p>Oracles relay data in a consistent, secure and decentralized manner and this is key to providing price feeds for the DeFi sector and for centralized exchanges.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/f2752c61-6eb5-4405-b9f9-14f1a2bd946a.jpg\"><figcaption style=\"text-align: center;\"><em>The number of partners for the top oracle projects. Source: <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a><\/em><\/figcaption><\/figure>\n<p>As shown in the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Coin98Analytics\/status\/1477259206176641024\">graphic<\/a> above, Chainlink is by far the most widely adopted oracle in the crypto ecosystem with a near eight-fold lead in partners when compared to its nearest competitor Berry Data (BRY).<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Chainlink_secures_new_partnerships\"><\/span>Chainlink secures new partnerships<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A scroll through the Chainlink Twitter feed shows why LINK has started off 2022 as the top oracle provider by announcing multiple partnerships with DeFi and NFT projects.<\/p>\n<p>The project has also benefited from its focus on developing the Cross-Chain Interoperability Protocol (CCIP) which helps facilitate the ongoing growth of the multi-chain ecosystem.<\/p>\n<p>VORTECS\u2122 data from Cointelegraph Markets Pro began to detect a bullish outlook for LINK on Dec. 10, prior to the recent price rise. <\/p>\n<p>The VORTECS\u2122 Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/79862072-e2c5-45f1-a09f-11c3b3103b3b.png\"><figcaption style=\"text-align: center;\"><em>VORTECS\u2122 Score (green) vs. LINK price. Source: <\/em><em>Cointelegraph Markets Pro<\/em><\/figcaption><\/figure>\n<p>As seen in the chart above, the VORTECS\u2122 Score for LINK began to pick up on Dec. 10 and hit a high of 77, around 72 hours before the price increased 60% over the next three weeks. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Blockchain enables enterprise business models in the Metaverse<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Band_Protocol_launches_on_Celo\"><\/span>Band Protocol launches on Celo<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Band Protocol is a cross-chain data platform designed to help developers integrate real-world data into their decentralized <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lications including sports, weather, random numbers and price feed data. <\/p>\n<p>The project recently announced that it had launched on Celo\u2019s (CELO) mobile-first DeFi platform which focuses on bringing decentralized finance to more than &#8220;6 billion smartphones in circulation.&#8221;\u00a0<\/p>\n<p>VORTECS\u2122 data from Cointelegraph Markets Pro began to detect a bullish outlook for BAND on Dec. 29, prior to the recent price rise. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/eb3ea6b5-448c-4a2d-8317-b32dceb1897b.png\"><figcaption style=\"text-align: center;\"><em>VORTECS\u2122 Score (green) vs. BAND price. Source: <\/em><em>Cointelegraph Markets Pro<\/em><\/figcaption><\/figure>\n<p>As seen in the chart above, the VORTECS\u2122 Score for BAND hit a high of 76 on Dec. 29, around 48 hours before the price began to increase 44% over the next five days.<\/p>\n<p>With the major themes of interoperability and cross-chain integrations shaping up to be a primary focus of the cryptocurrency ecosystem in 2022, oracles are one sector of the market that could continue to see positive inflows thanks to their ability to transfer data and assets seamlessly and securely between supported blockchain networks. <\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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