Should I buy WINkLink (WIN) in May 2022?

By:
on May 19, 2022
  • WIN is a utility token of WINkLink network
  • WIN has collapsed from its recent highs
  • The risk of further declines is still not over

WINkLink (WIN) remains under pressure; the price of this cryptocurrency fell from $0.000411 to $0.000132 since March 31, 2022, and the current price stands at $0.000138.

According to technical analysis, WIN remains in a bear market, and the risk of further declines is still not over.

Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.

WINkLink is a decentralized oracle network

WINkLink is a decentralized oracle network that uses its smart contracts to connect data from the real world and ensures data reliability through a decentralized mechanism.

WINkLink allows developers to use any real-world data and ensures the security of the entire procedure of smart contracts execution, including obtaining data from off-chain sources.

Developers can create customized oracles and connect smart contracts to the real world in a few minutes, and it is important to mention that WINkLink provides developers with verifiable randomness so that oracles can meet DApps’ various needs for random numbers.

WINkLink is deployed on the TRON network, and according to its official website,  developers should need to understand how the TRON platform works and know about smart contract deployment and the process of calling them.

Many important projects already collaborate with WINkLink, and the most popular ones include BitTorrent, SUN, TronGrid, Poloniex, TrueUSD, dlive, and Steemit.

WIN is a utility token of WINkLink network that can be used to pay WINkLink Node operators for the retrieval of data, formatting of data into blockchain readable formats, off-chain computation, and uptime guarantees they provide as operators.

Technically looking, WINkLink (WIN) remains under pressure, and if you decide to buy this cryptocurrency in May 2022, you should consider that the price can weaken even more.

The uncertainty because of the Russian-Ukrainian war, high inflation, and the rising risks of the recession remain in the focus of investors, and according to Philipp Rickenbacher, CEO of Julius Baer Group, we could be seeing “a bubble-burst moment of the crypto industry.”

Bears in control of WINkLink (WIN)

Data source: tradingview.com

WINkLink (WIN) has weakened from its recent highs registered in March 2022, and it may take a long time for prices to see any bigger recovery.

The risk of further declines is still not over, the critical support level stands at $0.00010, and if the price breaks it, the next price target could be at $0.000080.

On the other side, if the price jumps again above the $0.00020 resistance, we have an open way to $0.00025.

Summary

WINkLink is a decentralized oracle network deployed on the TRON that connects the off-chain world with smart contracts. WINkLink allows developers to use any real-world data such as sports and weather with verifiable randomness so that oracles can meet DApps’ various needs for random numbers. According to technical analysis, WINkLink (WIN) remains in a bear market, and the risk of further declines is still not over.

Where to buy right now

To invest simply and easily, users need a low-fee broker with a track record of reliability. The following brokers are highly rated, recognised worldwide, and safe to use:

  1. Etoro, trusted by over 13m users worldwide. Register here >
  2. Capital.com, simple, easy to use and regulated. Register here >

*Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.