With the collapse of FTX, the mistrust in crypto exchanges continues to grow. This is why more and more exchanges are adopting Chainlink’s Proof of Reserve technology to establish trust with their users.

One of the recent events that took place in the crypto market was Chainlink’s integration of their proof of reserve services for StablR a DeFi liquidity protocol. This rise in demand for showing proof of reserves could prove to be beneficial for Chainlink in the long run.

In lieu of these developments, Chainlink’s social engagements witnessed an uptick. According to data provided by LunarCrush, a social media analytics platform, Chainlink’s social engagements appreciated by 6.24% over the last week. 

Its weighted sentiment also remained positive over the last week. This indicated that the crypto community had more positive than negative things to say about LINK in the last seven days.

(By Suzuki Shillsalot)