Chainlink outperforms as the protocol’s total value secured reaches a new record of $93 billion

Chainlink’s total value secured, a metric tracking the adoption of the oracle network by measuring how much financial value is secured by the protocol, such as on-chain borrows in the DeFi ecosystem, surpassed $93 billion for the first time. 

The protocol’s native token has increased 8.6% in the last 24 hours and 45.2% in the past seven days, making it one of the top gainers, data from CoinGecko shows. Its 24-hour trading volume stands at nearly $1.9 billion, a figure substantially higher than last Monday, when it sat under $600 million. 

The new record comes less than one week after the introduction of the Chainlink Reserve, which is “designed to support the long-term growth and sustainability of the Chainlink Network by accumulating LINK tokens using offchain revenue from large enterprises that are adopting the Chainlink standard and from onchain service usage,” a blog post stated.  The reserve currently holds $1.5 million worth of the cryptocurrency.