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Chainlink LINK Token Drops 7.77% Following Oracle Network Glitch
Chainlink LINK Token Drops 7.77% Following Oracle Network Glitch
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Chainlink LINK News -
Chainlink’s LINK token fell sharply by 7.77% after a technical failure in its oracle network led to over $532,000 in liquidations. The DeFi staple is now trading around $14.54 as the market evaluates the impact.
The incident highlighted vulnerabilities in critical price feed infrastructure. A faulty update delivered incorrect data to smart contracts, causing unwarranted liquidations across multiple DeFi platforms within minutes.
Market sentiment remains mixed. While some see this as a temporary setback, others are questioning the reliability of oracle systems that support billions in DeFi value. On-chain data suggests selling pressure may be easing, potentially setting the stage for a technical rebound.
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