Chainlink is a decentralized oracle network that uses nodes to provide data analytics from off-blockchain sources and puts them on the blockchain smart contracts. Like a normal contract, a smart contract has predetermined parameters and agreements, however, the difference is with a smart contract, these all exist publicly and permanently on the blockchain. When the smart contract conditions are fulfilled, and information is verified, then it executes automatically. To pay for services on the network, Chainlink has a token called LINK.
The LINK price on YouHodler is aggregated from several different cryptocurrency exchanges in an attempt to provide the most accurate price possible. YouHodler combines LINK price rates from Binance, Kraken, Huobi, OKEx, and others.
To monitor LINK prices efficiently, we recommend downloading our app for iOS and Android compatible smartphones. This allows you to follow the latest LINK price anytime, anywhere. Forever.
The LINK price constantly changes, however, our interest rates are stable as ever. Since 2019, our LINK savings account has featured 6.2% APR + compounding interest. That’s what we call “stability done right”.
There are many useful scenarios for a crypto-backed loan. Use it to hedge your portfolio in the event of a LINK price drop or simply use the growing value of your LINK price as collateral for instant cash. Either way, don’t sell your Chainlink. Be a strong LINK Marine and HODL.
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