Recently, a major piece of news has emerged in the crypto market—Bitwise's spot ETF for LINK has received SEC approval and will soon be listed on NYSE Arca. As soon as this news broke, people in the community were discussing it, but many still don't quite understand what it means.

Rather than being a victory for a particular coin, it's more a recognition of the entire oracle track. So, what is an oracle? Simply put, it's like the information hub of the blockchain world—responsible for securely and reliably bringing real-world data (prices, weather, sports results, etc.) onto the chain.

Think about it: smart contracts are inherently "dumb"; they can only read data already on the chain. But real-world information is scattered across the internet, inaccessible to contracts directly. The job of an oracle is to act as an intermediary, collecting real data from various sources, verifying it, and then transmitting it to the chain, enabling smart contracts to execute smoothly.

This is essential for DeFi lending liquidations, NFT random distributions, on-chain insurance claim triggers—these all rely on oracles. You could say they are the foundational infrastructure of Web3, and that wouldn't be an exaggeration.

In this field, Chainlink (LINK) is the absolute leader. Data shows it holds over 90% market share, safeguarding over $57 billion in on-chain assets worldwide. Its position is very stable, and this stability makes more institutions and platforms willing to include it in their investment scope.

From another perspective, the real opportunity in this market rebound may not lie in the high-profile mainstream coins. Instead, these infrastructure projects, though less glamorous, are the backbone ensuring the entire ecosystem functions properly.