chainlink

Superstate integrates Chainlink for tokenized treasury fund

Published

1 month ago

August 12, 2024

Superstate, a blockchain-based asset management firm, has integrated Chainlink’s technology as it taps into the growing tokenization market.

The asset manager will leverage the Chainlink (LINK) Data Feeds to bring net asset value data for its tokenized treasury fund on-chain. In the announcement Superstate stated it aims to enhance the composability of its Superstate Short Duration US Government Securities Fund by utilizing Chainlink’s technology.

The integration enables the firm to access crucial off-chain data, essential for market pricing, utility, and transparency.

Rapidly growing tokenization market

Chainlink’s data will help Superstate gain further traction for its fund as the ecosystem embraces decentralized finance and real-world assets. USTB provides qualified investors with exposure to U.S. treasury assets.

“Superstate is playing a fundamental role in advancing infrastructure and servicing essential aspects of the rapidly growing tokenized asset economy,” Johann Eid, chief bBusiness officer at Chainlink Labs, said.

The tokenized treasury market has seen significant developments in recent months, including BlackRock’s launch of its USD Institutional Digital Liquidity Fund on Ethereum (ETH). BUIDL currently leads the sector with over $513 million in assets under management.

According to tokenized market tracking site rwa.xyz, Franklin On-Chain U.S. Government Money Fund by Franklin Templeton and Ondo U.S. Dollar Yield are the second and third largest tokenized U.S. Treasury assets. Franklin’s FOBXX has a market cap of over $412 million, while Ondo Finance’s USDY currently stands at $299 million.

Superstate, backed by venture capital firms such as CoinFund, Arrington Capital, and Cumberland, currently manages over $129 million in assets for its tokenized products. Its USTB ranks seventh by market cap per rwa.xyz with $75 million, trailing the Ondo Short Term U.S. Government Bond Fund, Hashnote Duration Yield Coin, and OpenEden TBILL Vault.

OUSG, USYC, and TBILL have market caps of $214 million, $181 million, and $94 million, respectively.

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Altcoins

Oracle Network Chainlink Witnesses More Recent Development Activity Than Any Other ERC-20 Project: Santiment

Published

2 months ago

August 3, 2024

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The decentralized oracle network Chainlink (LINK) continues to lead all ERC-20 projects in terms of recent development activity, according to the crypto analytics firm Santiment.

Santiment notes that Chainlink registered 401.53 notable GitHub events in the past 30 days.

The oracle project also topped the list in June, clocking in 560.6 notable events over a 30-day period.

Status (SNT) ranked second in the past 30 days, registering 370.73 events. Status aims to offer users a secure messaging app, crypto wallet and web3 browser via an open-source, peer-to-peer protocol and end-to-end encryption.

Ethereum (ETH) itself ranked 3rd, clocking 272.43 events.

Santiment notes that it doesn’t count routine updates and utilizes a “better methodology” to collect data for GitHub events based on a “backtested process.”

The analytics firm has previously said that heavy development activity centered around a crypto project indicates developers believe in the protocol. Development activity also suggests that the project is less likely to be an exit scam.

LINK is trading at $12.32 at time of writing. The 17th-ranked crypto asset by market cap is down more than 5% in the past 24 hours.

SNT is trading at $0.0232 at time of writing. The 415th-ranked crypto asset by market cap is down nearly 7% in the past day.

ETH is trading at $3,129 at time of writing and is down nearly 6% in the past 24 hours.

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ADA

Santiment Outlines Bullish Altcoins Amid a Blossoming Crypto Market – Here Are the Analytics Firm’s Picks

Published

2 months ago

July 28, 2024

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The crypto analytics firm Santiment outlined potentially bullish altcoins as digital asset markets ticked upwards on Friday.

Santiment analyzes assets by their market value-to-realized-value (MVRV) Z-score, which aims to measure whether they are undervalued or overvalued.

An asset tagged with a low MVRV Z-score is seen as undervalued while those with a high MVRV Z-score are viewed as overvalued.

Meanwhile, realized value records the price of each asset when it last moved and aims to gauge how many holders are in profit or at a loss.

Explains Santiment,

“If you believe markets are about to surge, history says that buying into assets that traders have experienced the most pain in have a greater probability of netting high returns for you.”

Santiment notes that high-pain assets with low MVRV Z-scores include the decentralized exchange (DEX) Uniswap (UNI), the memecoin Shiba Inu (SHIB), the blockchain scaling solution Polygon (MATIC), the decentralized oracle network Chainlink (LINK), the smart contract platform Cardano (ADA) and the payments altcoin XRP.

High-gain assets that are currently riskier buys include the layer-1 blockchain Toncoin (TON), Bitcoin (BTC), Ethereum (ETH) and top meme asset Dogecoin (DOGE).

Santiment doesn’t have MVRV data on Stellar (XLM), but the analytics firm also notes that the XRP competitor’s social volume and sentiment have been on the negative side, a “mildly bullish” sign for the asset.

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