Oracle coins among the top performing cryptoassets in 2020

The oracle problem is one of the most well known problems in crypto. How do blockchains bridge the gap between the on and off-chain worlds? In theory oracles will occupy a critical role in sending and receiving data between smart contracts and the real world. However, while the need is clear, the addressable market while presumably large is nebulous. Nevertheless, the idea has been enough to launch oracle tokens to some of the highest market caps of any cryptoassets. Oracle coins are among the top performing assets in crypto in 2020.

Many oracle tokens appear to be anchored to the price of Chainlink as a comp, which is worth multiples of its competitors. The relative valuation comparison alone has been enough to drive oracle tokens up thousands of percentage points year-to-date. While none have quite developed the fervent community Chainlink has, many like Band Protocol have employed Chainlink’s strategy of announcing a ton of project integrations and partnerships, and they’ve been rewarded for doing so. Are the long-tail of oracle tokens some of the most compelling relative value plays in crypto or is the entire section dramatically overvalued?

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