Why Chainlink Soared More Than 11% Today

Chainlink (CRYPTO: LINK), an oracle network used to support the integration of off-chain and on-chain data, has been making headlines of late. Indeed, the requirement many decentralized finance (DeFi) projects have to integrate blockchain technologies with off-chain data sources is growing. And Chainlink is a leading protocol allowing for the smooth integration of the real world and the digital world.

Recent news that Saber, an automated market maker on the Solana (CRYPTO: SOL) blockchain, would be using Chainlink price feeds for reliable order prices is big news. Accordingly, investors bullish on the upside the Solana network provides appear to be gravitating toward Chainlink's utility as an oracle network in this case.

Today, SOL is trading down around 3%, while LINK is currently more than 4% higher, giving up some of its earlier gains.

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Source Fool.com