LINK, PYTH rally as top Chainlink oracles secure over $50B valuation

• Chainlink and its oracles Pyth Network, WINKLink, Chronicle, RedStone and Switchboard secure over $50 billion in assets.
• Oracles support multiple blockchain networks and DeFi projects in the ecosystem.
• LINK and PYTH gain almost 3% on Tuesday, WIN adds almost 1% and XNL falls 7%.

Chainlink (LINK) and its oracles Pyth Network (PYTH), WINKLink (WIN), Chronicle (XNL), RedStone, and Switchboard have secured more than $50 billion in crypto assets on blockchains, according to DeFiLlama data. Most of the tokens linked to these oracles, which provide worldwide data and price streams for smart contracts and blockchains, post earnings on Tuesday

LINK and Chainlink based oracle projects win

LINK gained 2.36% on Tuesday, with its network securing $23.33 billion across 405 blockchains, according to DeFiLlama. Oracles based on the Chainlink ecosystem include PYTH, WIN, XNL, Redstone, and Switchboard, as seen in the chart below:

Chainlink, WINKLink, Chronicle, Pyth, Redstone and Switchboard secure over $50 billion in assets

Chainlink powers several DeFi projects by providing prices and data streams and ensures the value of applications in the crypto ecosystem. Chainlink ecosystem’s LINK and PYTH gain between 2% and 3% on Tuesday, WIN adds 1%, while XNL loses 7%.

RedStone and Switchboard secure $5.72 billion and $2.14 billion in value across 50+ blockchains. Participants in the crypto market are waiting for the release of the RedStone token, although there is no official announcement regarding the estimated date of release.

Chainlink Announces RWA Partnership

Chainlink recently partnered with Australian bank ANZ on the Monetary Authority of Singapore (MAS) Guardian project. T. LINK’s Cross-chain Interoperability Protocol (CCIP) technology will help secure the cross-exchange of tokenized real-world assets on the network.

Development involves greater utility and adoption of the LINK token.