The broader crypto market has entered partial correction after hitting record-high valuations of $2.68 trillion earlier this week. While bitcoin and most other altcoins are in the red, Chainlink (LINK) is shooting northwards gaining more than 6% today.

As of press time, Chainlink (LINK) is trading 6.17% up at a price of $29.86 with a market cap of $13.3 billion. The recent price rally comes amid heavy whale accumulation for the LINK. As on-chain data provider Santiment reports:

Chainlink has opened Friday by going on a price surge. Millionaire addresses holding 100k to 10m $LINK own about 1/4th of the total supply now, the largest amount held in their history. The 16th market cap ranked asset was last over $30 five weeks ago.

One of the oldest news agency the Associated Press (AP) is tapping into the Chainlink blockchain for gathering economic, sports, and elections data in a decentralized manner. One of the biggest challenges with journalism today is the reliable sourcing of data.

The Chainlink oracles serve as the best way to transfer data from off-chain to on-chain in a transparent and decentralized manner. Associated Press will be running a Chainlink node that can start uploading a significant set of data. This data shall be cryptographically signed for verifying its authenticity.

In the official press release, Dwayne Desaulniers, AP director of blockchain and data licensing says:

“Chainlink technology is the ideal way to provide smart contract developers anywhere in the world with direct, on-demand access to AP’s trusted economic, sports, and race call data. Working with Chainlink allows this information to be compatible with any blockchain. The open-source software is reliable, secure, and widely used across leading blockchain networks.”

This recent development is a big boost for the Chainlink ecosystem and will encourage more players to join.