Recently, Chainlink (LINK) has been engaged in an aggressive effort to maintain support at the $22 level, considered critical. Concurrently, significant developments in the Web3 ecosystem are taking place: Humanity Protocol's successful fundraising and Web3Bay's decentralized innovations are embodying the future of the industry.
The $22 Battleground for Chainlink (LINK)
Current efforts by Chainlink bulls to keep the price above $22 come with opportunities and threats. The $24 support level was recently broken, and LINK's further movement depends on whether buyers can maintain the current level. Success here may lead to a move towards $24 and beyond, while increased selling pressure may result in a drop below $20.
Web3 Protocol Development: Humanity Protocol's Success
Another important announcement was Humanity Protocol's $20 million funding to develop its decentralized identity solutions. The company plans to use the funds to expand its palm-scan authentication technology, addressing the issues of fake accounts and bot-driven fraud.
Web3Bay: The New Era of Decentralized Commerce
Web3Bay aims to transform traditional e-commerce by providing users with control through a decentralized ecosystem. In its presale campaign, Web3Bay has raised over $1 million, marking an initial step towards creating a transparent and secure platform. All transactions are recorded on an immutable ledger, eliminating manipulation risks.
Chainlink's immediate future depends on holding the $22 level. Meanwhile, significant changes are being seen in the Web3 ecosystem, where successful initiatives by Humanity Protocol and Web3Bay underscore the increasing interest in decentralized technology.
