Following the release of the Cross-Chain Interoperability Protocol (CCIP), many affluent investors traded Ether for LINK last month. Additionally, whales added over $6 million to their LINK holdings. The increased demand caused the Link price to increase by approximately 6%.

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Therefore, Chainlink's CCIP has given the protocol a new charge. CCIP is intended to aid in the development of cross-chain applications and services. CCIP is available on the following testnets for all developers:

• The arbitrariness of Goerli.
• Fuji snowslide.
• The Ethereum Sepolia cryptocurrency.
• Positive Goerli.
• Polygon the city of Mumbai.

Innovative Oracle services provided by Chainlink make it a leader in the decentralized finance (DeFi) market. Chainlink's price increase from $2.25 to over $50 during the bull market of 2020–21 reflects the high demand for trustworthy off-chain data in blockchain applications.

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Despite trading at $7.36, LINK remains one of the most prominent Oracle service providers. The recent launch of the CCIP, which seeks to facilitate seamless communications between various blockchains, is another significant development. Intriguingly, the global payment network Swift utilizes Chainlink to communicate to various blockchain networks. This gives Chainlink more potential. The only consistent news we see on Chainlink is positive news. Here, it is grossly undervalued.

Despite trading at $7.36, LINK remains one of the most prominent Oracle service providers. The recent launch of the CCIP, which seeks to facilitate seamless communications between various blockchains, is another significant development. Intriguingly, the global payment network Swift utilizes Chainlink to communicate to various blockchain networks. This gives Chainlink more potential. The only consistent news we see on Chainlink is positive news. Here, it is grossly undervalued.

2) MKR Maker Protocol

Maker Protocol has been widely adopted over the past few weeks. Data indicates that MKR, the platform's native token, is attracting significant deposits and exchanges. And accumulations carried out by the market leaders. Among these participants are notable VC firms.

RuneKek, originator of MakerDAO, participated in a notable exchange. According to data from Spot on Chain, he acquired 1,613 MKR by exchanging approximately 1,61,000,000 DAI for an average of $998.2 per MKR.

Notably, a16z recently transferred 1,500 MKR to Coinbase at an average price of $970.35. In the past four days, approximately $5.83 million has been accumulated. Additionally, the VC firm transferred approximately 6.9K MKR (valued at $8.08 million) to a new wallet address.

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The data also revealed that between June and late July, HoldingCms acquired 1,325 MKR from c and Bitget at an average price of $799.50 per MKR. It appears that Maker's token redemption program is one of the primary causes for the increased interest in MKR. The total market cap of the token is approximately $1 billion. At present prices, the buyback would reduce the supply by 0.7% per month.

The buyback program increased investor confidence in MKR. The token's optimistic momentum also attracted short-term speculators and long-term investors seeking to profit. MKR is an essential governance token for the Maker protocol. Token holders have the ability to influence the protocol and vote on usage proposals. Currently, MKR is trading at $1,219.29.

3) GMX

Whales are quite active in the ecosystem of Arbitrum. GMX is one of the initiatives that has captured their interest. GMX has everything necessary for expansion. Therefore, increased whale activity is not unexpected. Recently, Lookonchain revealed that a cetacean spent 5,330 $DAI to purchase $GMX.