Covalent and Chainlink are playing two different but complementary games.
Chainlink is the incumbent with oracles, CCIP, automation and big enterprise money flowing back into $LINK through a buyback and hold loop.
@Covalent_HQ is earlier but already hitting scale with 471M API calls in Q2 (95% paid), live $CXT buybacks (~1% retired), 300M staked (~33%), 98% already circulating and a burn on the way.
Chainlink brings offchain data onchain. Covalent streams onchain data offchain at sub 200ms, perfect for HFT bots and AI agents. With SOC2 compliance, 100+ chain coverage and 57k subs, it shows real demand now.
Chainlink owns today. But Covalent feels like the “GPU of blockchains,” with sharper reflexivity and much more asymmetry ahead. Same vibe I get from @peaq, infra that is already useful now but still early on the curve.
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