CoinStats - Chainlink Price Drops 7.77% Amid Oracle Glitc...

CoinStats - Chainlink Price Drops 7.77% Amid Oracle Glitc...

The post Chainlink Price Drops 7.77% Amid Oracle Glitch, Will LINK Price Go Back Up?  appeared first on Coinpedia Fintech News Chainlink, often regarded as a pioneer in the oracle sector, is in the spotlight for the wrong reasons. A recent issue with a Chainlink oracle update led to over $532,000 in user fund losses in mere 180 seconds. The incident has ignited criticism and questions around Chainlink price in the short term. From a price standp…

The transaction took place because of the price differential between USD and USDT stablecoin, attributable to the Chainlink oracle used in Curve. What happened puts on the table the risks of these in low-liquid markets and in the DeFi sector. *** A series of operations in Curve’s pool handled briefly the price of the USD token. This led to an automated settlement on the Euler loan platform. Chainlink defended its pricing system while increasing …