Chainlink is an ecosystem that works on the Ethereum blockchain and inherits its speed. It was launched in June 2017. The project helps blockchains interact with each other and with other external data sources through oracles. The network enables safe interaction between blockchains, payment methods, events, and data feeds.
Chainlink (LINK) is a governance token that enables service payments within the network. It’s used to pay node operators on the network for receiving data for smart contracts and node operator deposits.
The value and demand for the token depend on the number of operators that secure the network. Still, other various use cases of the decentralized oracle network determine its value. The more use cases the platform can be put to, the more the LINK token will appreciate. This can affect the price direction of the LINK/US dollar pair.
If you don’t plan to own the cryptocurrency, you can trade CFD on the LNK/USD pair at LiteFinance. CFD trading allows dealing with the pair regardless of its price direction. When trading LNK to USD, you should consider the strength of the US dollar.
The USD also has the status of a national currency in the USA and its territories. The US dollar is often an additional currency in countries where the national currency is not the sole legal means of payment, including the Marshall Islands, El Salvador, Zimbabwe, Ecuador, Micronesia, Palau, and East Timor. More than 80% of world trade is performed in American dollars.
The United States dollar is the currency of the United States of America. It is one of the world’s major reserve currencies. The right to issue the United States dollars belongs to the Federal Reserve – the central bank of the United States. The monetary policy of the Fed affects the rate of the US dollar. The economic health and global economic and political issues are among the rate drivers. As the USD is a refuge currency, it will rise in value in times of risk-off sentiment.
Risk warning: Trading in FX and CFDs entails high risk of losing capital.
