Polymarket and UMA have revealed they will launch a brand new Oracle on Eigenlayer, but how are LINK price and EIGEN price reacting?
For many years, the oracle game has seemed finished; Chainlink crowned King oracle, and other rivals, such as the ASEAN-oriented BAND Protocol, seemingly faded insignificance.
But everything might be about to change after Polymarket and UMA revealed a new project aiming to build a next-generation prediction market oracle on Ethereum’s Eigen Layer.
For those unfamiliar, an oracle is simply a live feed of data (for example, changing price data – that can be integrated into a protocol).
What’s The Idea Behind Polymarket’s New Oracle on Eigenlayer?
While hard details following the revelation are scarce, we know that the so-called ‘next generation’ oracle could enable multi-token support for dispute resolution, dynamic bonding, AI agent integrations, and enhanced bribery attack security.
Moreover, deployed on Ethereum’s ultra-high-speed Eigenlayer, it would be unsurprising if developers didn’t work to showcase the incredible power of the EIGEN blockchain in the product—especially when aiming for a crown like Chainlinks.
However, given that Polymarkets and UMA are the players involved and the oracle is a stated ‘prediction market’ oracle, it seems likely that it will be able to coexist with LINK in the future, serving a different market function that could open the door to collaboration between the two projects.
LINK Price and EIGEN Price: How Are Oracle Crypto Coins Responding?
While the news is exciting smart money investors, the reaction across the crypto market has been largely muted, with minimal reaction in both EIGEN price and LINK price charts.
Gaining on the news, EIGEN saw a small confidence boost as its price increased by +1.3%. LINK’s price, on the other hand, saw a negligible downtick from the news—dropping -0.8%.
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Yet, despite the ostensible boost to Eigenlayer fundamentals, stepping back from the big picture, the relative strength of LINK vs. EIGEN can be seen clearly as day.
With EIGEN’s price tumbling and bleeding out since launching in October to hit a current -58% on launch price, LINK’s price is still trading in largely bullish form, with strong support from the 200DMA and a positive +44% gain over the same period.
Therefore, on the question of LINK vs. EIGEN, I think it’s safe to say the King retains the crown. However, that’s not to say there aren’t high growth opportunities in the market today that could be game-changing for your portfolio – positioning you ahead of future major crypto infrastructure.
Viral New Solana Layer-2 SOLX Blasts Past $22 Million Raised in Weeks
Regarding L2 solutions, Solaxy (SOLX) has unlocked viral velocity and is close to raising $23 million just months before going live.
Smart money investors are taking aim as SOLX stands at the world’s first L2 solution for Solana, focusing on meme coins, and has achieved an incredible amount of early-stage funding from whales and smart investors after congestion highlighted network limitations around the TRUMP, MELANIA, and MILEI meme coin fiascos.
Solaxy aims to address Solana’s network congestion challenges head-on with its L2 technology. Unlike traditional L2 solutions that may divert resources from the base layer, Solaxy enhances Solana’s capabilities without compromising its integrity.
It does so by moving transaction processing to its own infrastructure while maintaining compatibility with Solana’s ecosystem. As a result, Solaxy ensures seamless operations even during peak network activity, which will be pushed to the limit in this upcoming bull run.
Additionally, there is a built-in staking protocol for the Solaxy presale whereby investors can stake their SOLX for over 182% APY in passive income.
For the latest updates on the project, connect with the SOLX community on X and Telegram
Visit the Solaxy Presale Website Here
EXPLORE: The Safer Bet: Why $MEMEX Indexes Outperform Single Meme Coins in Bearish Markets
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