COTI Integrates Chainlink Keepers Into Armadillo To Automate Impermanent Loss Protection Payouts

COTI's (CRYPTO: COTI) latest announcement revealed that Armadillo, powered by CVI, would be using Chainlink (CRYPTO: LINK) Keepers on Polygon's (CRYPTO: MATIC) network to reinforce impermanent loss protection. What Happened: COTI has announced that it will be leveraging Chainlink Keepers, a means to automate smart contract functions, to secure and cost-effectively automate payouts to compensate for the impermanent loss incurred by liquidity providers.

Timeline of Coti, Chainlink

The latest Chainlink price analysis shows a massive bullish trend after the bulls reclaimed above the $6.00 level. Resistance for the coin is present at $7.12, However, a break above this level is expected to push the coin towards $7.35 and $7.40 levels in the near term.

Chainlink price analysis is bearish today, following the recent breakdown below $7. The LINK/USD pair is now trading at $6.83 and facing resistance at $7.5. On the other hand, prices have support at $5.6. A break below this level could see LINK/USD drop to $5.

After following the Bitcoin [BTC] resurgence for a few days, Chainlink [LINK] is back at lower levels. At press time, LINK was trading at $6.83, a 7.07% drop from the previous day's price.

ChainLink price analysis for July 21, 2022, reveals the market following partial bullish movement, obtaining some positive momentum, signifying a gain of positivity for the LINK market. The price of ChainLink has remained negative over the past few hours.

[PRESS RELEASE – New York, New York, 20th July 2022] NEW YORK, July 20, 2022 — Bybit is excited to announce the integration of 35+ Chainlink Price Feeds into its spot trading platform on Polygon mainnet.

In its latest Adoption Update, Chainlink, the widely used oracle network, informed its users of a series of integrations. These were primarily seen across various chains between 11 July and 17 July.

Chainlink price analysis is favoring the bullish sentiment of the market as bulls have managed to take firm control of LINK prices. Chainlink prices are up with a significant percentage of 5.51, with prices soaring to $6,54.

Chainlink price analysis shows that the market is currently in a bearish state as the price has slipped below the $6.40 level and is currently trading at around $6.19. The market has been in a downtrend for the past 24 hours and it seems like the bearish momentum is still present in the market.

The COTI protocol, an Enterprise Layer 1 blockchain, will transform from a single currency infrastructure to a multi-token layer after a hard fork, Invezz learned from a Medium post. The protocol will launch MultiDAG 2.0 after this hard fork. CMD, a new token standard, also comes with this change.

Chainlink's [LINK] previous revival tested the $6.7-level before giving into the near-term bearish inclinations. As a result, LINK devalued in a down-channel (yellow) toward its multi-weekly lows in the $5.9 region.