Chainlink is a crucial component in the decentralized finance (DeFi) ecosystem, providing real-world data to blockchains through its oracle network.
The company has established partnerships with multiple high-profile financial institutions, including SWIFT and JPMorgan Chase, which use Chainlink's Cross-Chain Interoperability Protocol (CCIP) for cross-chain communication.
However, despite its significant role in the crypto ecosystem, Chainlink has lost 80% of its value since its all-time high of $53 over five years ago.