As cryptocurrencies experienced a significant rally on September 12, Bitcoin surged past the $115,000 mark while altcoins also saw substantial gains. In a noteworthy development, Chainlink announced via X that its total value secured (TVS) crossed the impressive threshold of $100 billion, marking an all-time high for the Oracle platform. This surge in TVS indicates not only the platform’s growth but also an increased level of adoption and confidence among users in decentralized finance (DeFi) and traditional finance sectors.
Chainlink’s TVS has witnessed remarkable growth over the year, more than doubling from approximately $38 billion at the start of the year to $93 billion by mid-August, before finally surpassing the $100 billion milestone. This impressive trajectory is largely attributed to the expansion of DeFi protocols and the increasing adoption of enterprise use cases that are supported by Chainlink’s oracle offerings.
Recent partnerships have significantly contributed to this momentum. For instance, the collaboration with the Intercontinental Exchange aims to integrate foreign exchange and precious metals data into Chainlink’s Data Streams. Additionally, the U.S. Department of Commerce is working to use Chainlink to bring essential economic data on-chain, further solidifying the platform’s credibility and utility.
Data from DeFiLlama indicates that the lending protocol Aave holds the largest share of Chainlink’s TVS, securing over $70.9 billion, which accounts for nearly 70.75% of the total across 17 different blockchain networks. Aave v3 is predominantly utilized on Ethereum, Arbitrum, and Base, while other contributing protocols include Maple, Compound v3, SparkLend, and Kamino on the Solana blockchain.
With the increase in TVS, Chainlink’s native token, LINK, has also gained traction. On the same day, LINK rose to approximately $24.70, marking a nearly 5% increase for the day and an 11% gain over the past week.
In a separate development, Polymarket has recently chosen Chainlink as its oracle provider to enhance the resolution of certain prediction markets on its platform. This partnership emphasizes the need for accuracy and speed in markets that rely on the performance of digital assets. Chainlink will now be the primary source for verifying price achievement within specified time frames on Polymarket, a move that Chainlink co-founder Sergey Nazarov has described as a “pivotal milestone.” He stated that the integration could enhance trust in prediction markets through the provision of high-quality data and tamper-proof computations.
Initially focusing on cryptocurrency markets such as Bitcoin, Chainlink’s data streams encompass a wide range of 366 trading pairs, and future efforts may tackle more subjective questions. While Chainlink will take on this role, UMA remains Polymarket’s primary oracle, utilizing a system where truth is determined via token holder votes. Critics of UMA’s protocol argue that it can be influenced by token-rich participants.
Earlier this year, Polymarket acknowledged a market resolution that conflicted with user expectations, attributing the outcome to UMA’s method. Despite the incident, Polymarket insisted it did not constitute a market failure. Recently, UMA introduced a proposal to control who can propose resolutions in disputes, launching an allowlist that initially includes 37 proposers.
As Chainlink continues to forge high-profile partnerships, co-founder Sergey Nazarov has indicated that the company is also engaged with various agencies from the Trump administration to facilitate bringing key federal government functions on-chain, building on its earlier collaboration with the Department of Commerce on data feeds.
