Chainlink partners with SWIFT while Ethereum stumbles, investors eyeing Domini

Chainlink (LINK) saw moderate gains in late August, while Ethereum (ETH) declined. In the meantime, Domini (DOMI), currently in its presale beta stage, was widely explored by investors.

But before we delve deeper into Domini, let’s analyze Chainlink’s and Ethereum’s contrasting trajectories.

Chainlink retains bullish outlook after SWIFT collaboration

On Aug. 31, SWIFT announced they had successfully transferred tokenized assets between public and private blockchains.

In this trial, SWIFT collaborated with Chainlink and major financial institutions such as BNY Mellon and ANZ. 

Analysts saw this news as positive and believed it would boost LINK in the coming sessions. However, LINK added 1.2%, rising from $5.94 to $6.01 between Aug. 31 and Sept. 1. This drove the token’s market cap marginally from $3.20 billion to $3.23 billion.

As of Sept. 1, 2023, monthly indicators, especially MACD and SMA 10, remained bearish. As such, LINK may likely post more losses in the coming days.

Ethereum falls after Bitwise’s announcement

On Aug. 31, 2023, Bitwise unexpectedly retracted its exchange-traded fund (ETF) application for Bitcoin (BTC) and Ethereum (ETH) from the Securities and Exchange Commission (SEC). This withdrawal was a few days after Grayscale’s victory over the agency.

With this, experts predict ETH will post more losses in upcoming sessions. As it is, the coin dropped 3.6% from $1,706 to $1,645 between Aug. 31 and Sept. 1. The contraction also saw ETH’s market cap shrink 3.4% from $205 billion to $198 billion during the same time. 

Although Ethereum’s outlook remains bearish, investors are optimistic about the likelihood of a bull run in the near future.

As of Sept. 1, 2023, Ethereum’s monthly technical indicators were bullish. Specifically, the coin’s EMA 50 and SMA 50 levels point to buying pressure in the coming days.

While ETH struggles to contain bears, Domini is firm and is being considered by buyers.

Domini set for more gains in presale

Domini blends art and innovation and aims to bridge the gap between the traditional art market and the blockchain. The platform leverages solutions like fractionalization to broaden investors’ accessibility to reputable artworks.

Domini allows investors to access affordable art by owning a portion of high-end art pieces. It not only offers investment options but also offers advisory services. They conduct thorough market analysis to provide personalized advice to artists on the most promising NFT investments. Domini tokenizes artworks for investor trust and can provide extra benefits to token holders.

DOMI, Domini’s native ERC-20 token, has a deflationary feature that could help maintain its value by gradually reducing the total supply. Furthermore, holders have the option to trade NFTs backed by art. Domini offers diverse opportunities, and analysts are optimistic about its potential during the presale stage.

As of Sept. 1, 2023, Domini was in the beta stage of its presale. In stage 1 of the public presale, DOMI will be available for $0.0026, up from $0.0021 to $0.0026, a 23.8% increase.

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