A BIT Goes a Long Way — August 17

Chart of the Day

Chin Up. While SOL and LUNA have captured the spotlight on Monday by hitting respective all-time highs, the top oracle project Chainlink has extended its own impressive gains, up more than 18% over the past week. It briefly touched its 10-week high above $30, before retreating to the upper $28 region. LINK’s rally is in part fueled by the latest data oracle launch, which allows developers to access real-world financial market data in smart contracts. On-chain metrics suggest that top LINK whales are relinquishing their grip on supply to new entrants, as the percentage of supply held by top addresses has reached an all-time low — truly living up to the idea of decentralization. 

Talk of the Town

BitDAO, one of the most promising Decentralized Autonomous Organization (DAO) platforms backed by big names including us, has launched its new token in collaboration with Sushi MISO. The BIT-ETH auction has successfully concluded with a maximum commitment size of over 112,000 ETH raised (roughly $360 million) from more than 9,200 eager participants.