Analyzing BNB and Chainlink price action, Everlodge stage 7 presale sells out
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BNB prices briefly fell following the departure of Binance founder Changpeng Zhao as CEO. Chainlink (LINK) benefits from the growth of AI. It is also an Oracle, enabling users to access off-chain data required for smart contracts. LINK is up 138% in the past year.
Some seeking to recover losses are turning to Everlodge (ELDG), given its potential to disrupt the $4.548 trillion hospitality industry through AI.
Binance corrects to $235
BNB has seen some recent declines, which has worried some investors.
On Nov. 21, when Binance founder Changpeng Zhao announced he was stepping down as CEO, BNB traded around $235. As of Dec. 8, it was at $226, down 11.94%.
Despite declines attributable partly to uncertain leadership transitions, BNB is the fourth largest crypto with a market capitalization of over $36 billion and $934 million in trading volume as of this week.
Based on technical analysis forecasts, some analysts predict BNB could return to around $243 by the end of 2023.
Chainlink may soar past $17
Chainlink has benefited recently from increased interest in external data integration to enhance AI systems like those developed by OpenAI and Microsoft. Chainlink allows users to incorporate off-chain data into smart contracts.
Developers have showcased Chainlink’s potential to improve AI capabilities by connecting systems to relevant real-world information. This usage potential has recently generated some positive sentiment around LINK.
According to one pseudonymous analyst, LINK has broken out from an ascending triangle price pattern, signaling the potential to reach a target of $17 in the near term based on technical indicators. Over the past week, LINK rose from $14.75 to over $16.42.