Chainlink Integrates Cardano’s ADA and Six Other Cryptocurrencies into Data Streams Platform

Chainlink Integrates Cardano’s ADA and Six Other Cryptocurrencies into Data Streams Platform

Chainlink has recently expanded its Data Streams platform to include Cardano’s ADA, along with six other cryptocurrencies. This addition provides users with real-time access to both on-chain and off-chain data for these assets, marking a significant step forward for Cardano’s adoption.

The new assets supported by Chainlink Data Streams include Illuvium (ILV), Injective (INJ), Jito (JTO), Lido (LDO), ONDO, and SUI. With these additions, the platform now delivers real-time data for a total of 52 different cryptocurrencies, including major players like Bitcoin, XRP, and Shiba Inu.

Launched in 2023, Chainlink Data Streams offers high-frequency, low-latency data to off-chain users. This technology ensures up-to-date asset pricing without delays, and its automated features facilitate seamless on-chain transaction settlements.

Since its launch, Chainlink Data Streams has garnered significant attention and adoption. One of its notable achievements includes a unanimous vote from the Synthetix Spartan Council to integrate the platform into Synthetix version 3 on the Arbitrum network.

Additionally, Beefy Finance has integrated Chainlink’s Price Feed system, recognizing its potential to enhance the security of its concentrated liquidity manager across multiple blockchain networks. This integration showcases the versatile utility of Chainlink’s latest offering.

The inclusion of ADA in Chainlink’s Data Streams further underscores the token’s growing adoption. Cardano’s ADA remains a prominent asset in the cryptocurrency market, boasting a market capitalization of $12.5 billion.

Spike in ADA Transactions

Recent data from IntoTheBlock highlights a surge in large transactions involving Cardano’s ADA, with 16.33 billion ADA being transferred within the past 24 hours. This figure is approaching the 7-day peak of 16.98 billion ADA, indicating heightened activity among large holders, often referred to as “whales.” Such significant movements typically signal bullish momentum for the asset.

These developments come on the heels of the upcoming Chang upgrade, scheduled for September 1, which aims to enhance the blockchain’s functionality and introduce a new governance model.

Despite these positive developments, ADA’s price has continued to underperform, trading at $0.3479. The asset has seen a slight decline of less than 1% in the past 24 hours and has dropped nearly 12% over the past week.