The crypto sphere has been buzzing over the past few days owing to the Bitcoin halving event, but that does not mean that other cryptocurrencies have not been making waves as well. Chainlink (LINK) and Tezos (XTZ) may be two of the smaller cryptocurrencies when it comes to market cap, but both have made noticeable gains in recent days.
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The two projects entered into a partnership recently, and since then, the cryptocurrency tokens have been in lockstep. Both cryptocurrencies seemed to be in the dumps not long ago, but both LINK and XTZ have managed to make remarkable recoveries recently.
That being said, it is also important to keep in mind that both these tokens have been among the best performers so far this year. Both LINK and XTZ have generated gains of 100% this year.
The partnership between the two projects will help smart contract developers who work on Tezos to get access to the decentralized oracle network that is managed by Chainlink. The availability of an advanced decentralized network is expected to be a major boost to all the developers who work on the Tezos project.
In addition to that, it also opens up a range of possibilities for the developers in terms of use cases, so it is not really a surprise that Tezos has enjoyed a rally in the past few days. Experts believe that both projects are expected to see the benefits of this collaboration in the long run. As the blockchain space grows, and the demand for smart contracts rises, the possibilities of the dual effort will become clearer.
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At this point in time, the collaboration between LINK and XTZ has triggered a lot of interest in the crypto space. It remains to be seen how long the rally is sustained in both these tokens.
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