Chainlink BUILD Partnership Elevates Source Network’s Web3 Data Management

In a significant stride towards enhancing Web3 data management, Source Network has forged a pivotal alliance with Chainlink’s BUILD program. This partnership propels the decentralization of data management within the Web3 landscape. By aligning with Chainlink, Source Network aims to amplify the reach and reception of its cutting-edge decentralized data management layer.

The collaborative endeavour unfolds a host of reciprocal advantages. Source Network gains augmented access to Chainlink’s renowned oracle services and specialized technical support, thereby reinforcing its prowess in the Web3 domain. Conversely, Source Network commits to dedicating 3% of its native token to Chainlink service providers, nurturing a mutually beneficial economic rapport.

Source Network’s Web3 Data Management Gets a Boost from #Chainlink BUILD Partnership #LINK https://t.co/4h5qE8WkSz pic.twitter.com/vK408J5Ev0

— ETHNews (@ETHNews_com) August 16, 2023

Central to Source Network’s ethos is the empowerment of user data privacy and ownership in decentralized applications. This ethos harmonizes seamlessly with Chainlink BUILD’s purpose, which is to provide the utmost security and dependability to developers leveraging Source Network’s solutions. This integration introduces secure data feeds, verifiable randomness, and exclusive previews of Chainlink’s upcoming products, thus amplifying the overall value proposition of Source Network.

Through this synergistic collaboration, both Source Network and Chainlink BUILD are poised to redefine the paradigm of Web3 data management. As Source Network’s decentralized data management layer garners heightened recognition and adoption, the partnership with Chainlink BUILD emerges as a cornerstone of this transformative expedition

The partnership between Chainlink and Source Network through the BUILD program can influence the price of Chainlink’s LINK token in various ways. The collaboration’s potential to expand Chainlink’s ecosystem, and increase adoption, and demand for its services could positively impact the token’s price. Positive sentiment, greater credibility, and economic incentives for service providers could further drive demand for LINK.

Key Chainlink Levels To Watch Out For – August 8

The LINKUSD price currently resides at a substantial demand level according to the daily chart analysis. Following a pronounced overbought indication from the Stochastic oscillator, the market underwent a notable retracement to the $6.80 mark.

Presently, the market demonstrates an oversold condition, as evidenced by the Stochastic indicator aligning with the demand level. Reinforcing this situation, the lower Bollinger Band is anticipated to act as a supportive barrier, bolstering the price’s upward trajectory towards the $8.00 target.

Key Levels For LINK

Demand Levels: $7.240, $6.670, $6.310
Supply Levels: $7.720, $8.090, $8.500

Total Market Capitalization: $1.2T
LINK Market Capitalization: $3.6B
LINK Volume: $250M
Rank: 21

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