Chainlink (LINK) see price surge as they expand token utility

Two cryptocurrency projects — Kyber Network and Chainlink — experienced a refreshing price growth this month. While the crypto sector saw significant levels of recovery overall, experts believe that the coins' prices grew due to development activity.

In fact, this same work on the projects' software development could also indicate how the prices could move further.

Chainlink (LINK) sees utility expansion

Chainlink (LINK) is a project that made a lot of progress, and it managed to stay true to its long-term goals. This dedication and the fact that it kept its promises cemented the users' trust. Sticking to the plan and the roadmap provided trust in the project, and the surging price certainly confirms it.

The firm made a major move in April by announcing a new partnership with an enterprise-targeting blockchain platform, Cypherium. The partnership provided the secured fully-integrated smart contracts, with end-to-end security.

Soon after that, another major project, Acala Network, announced plans to use Chainlink's technology. Its goal is to supply reliable, robust price feeds to various DeFi applications on Polkadot.

Meanwhile, IRISnet also revealed Chainlink integration in order to support interoperability.

Little by little, Chainlink kept expanding throughout the crypto industry. Its existing use cases are getting fortified, and its value confirmed and improved.

As a result, its token price surged by almost 90% in April, going from $2.1 to $4. Expert seem to believe that a correction might arrive shortly, but the fact remains — LINK is making waves out there.

Kyber Network about to fork

As mentioned, a similar spike in price and development activity alike was also seen in Kyber Network. However, this project's moves have more to do with the upcoming launch of KyberDAO and Katalyst. The company is approaching its deadlines, which means that it is also approaching the launch of its new services.

It also shared an update regarding different functionalities, such as voting, staking, and delegation. But, that doesn't mean that the project did not focus on partnerships too, In integrated multiple startups into its ecosystem, such as Furucombo, Unstoppable Domains, Rarible, and more.

And, as the Katalyst fork approaches, the coin's price surged, going up by 80% last month. The chart shows that the end of April allowed a flag to emerge, and that the coin's price is likely to grow to $0.93.

Of course, development activity is not the best indicator of price behavior. But, it certainly helps with the predictions, and it grants projects with legitimacy, which is important in an industry filled with scams.