Will the Collaboration Bring Needed Respite to AVAX and LINK?

Will the Collaboration Bring Needed Respite to AVAX and LINK?
  • The DeFi space was one of the main areas of growth as per Avalanche Labs.
  • AVAX’s NFT volume has also increased in the last month.

Avalanche Labs tweeted on September 27th about its latest collaboration with Chainlink [LINK]. Chainlink, according to the post, aided AVAX’s growth in the NFT, GameFI, and DeFi sectors. Avalanche labs claimed that the Avalanche network grew dramatically as a result of the integrations of Chainlink’s price feed, VRF, and Keepers into their mainnet. Furthermore, the blockchain secured approximately $550 million in value.

Growth Of  DeFi Space

According to Avalanche Labs, one of the main areas of growth was the DeFi space. The Avalanche team could improve their DeFI growth in terms of liquid staking and DEXs with the help of Chainlink’s price feed. In addition, projects like Aave, BenqiFinance, and Trader Joe used the Chainlink systems to improve the Avalanche protocol. This development, however, had little effect on their TVL.

AAVE’s TVL had remained flat throughout September, standing at $1.1 billion. AVAX has performed well in the NFT space. Chainlink’s VRF tools had been used by the NFT community to help them grow. AVAX’s NFT volume has also increased in the last month.

Furthermore, on September 24, NFT sales volume peaked at $1.62 million, the highest level of the month. As a result, it is safe to say that Chainlink played a significant role in increasing AVAX volume. On September 24, NFT sales volume peaked at $1.62 million, the highest level of the month. As a result, it is safe to say that Chainlink played a significant role in increasing AVAX volume.

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