While most digital currency markets remained quiet, Chainlink’s LINK token saw remarkable growth thanks to positive developments. Chainlink (LINK) stood out as a top performer, even as U.S. financial markets paused for Memorial Day.<\/p>\n
Currently standing as the 14th largest cryptocurrency in terms of market capitalization, LINK made significant gains, rising over 10% in the last 24 hours to reach $18.75, according to CoinGecko data.<\/p>\n
LINK acts as the native token for Chainlink, an oracle project established on the Ethereum blockchain with the purpose of securely transferring data within and between blockchains.<\/p>\n
The recent boost in LINK’s value can be attributed to the optimistic outlook from holders and supporters, spurred by the news of Chainlink’s collaboration with Swift, a global payments platform. This partnership will be featured at the upcoming ConsenSys conference in Austin, Texas, showcasing the possibility of merging traditional financial systems with blockchain technology.<\/p>\n
Sergey Nazarov, co-founder of Chainlink, expressed confidence in Ethereum and the broader digital asset market following the approval of Ethereum exchange-traded funds (ETFs). Nazarov believes this is just the start and foresees a future where various tokens will have their ETFs, facilitating engagement with global capital markets.<\/p>\n
Chainlink has been demonstrating progress across nine distinct blockchains, including Ethereum, Arbitrum, Polygon, and Base. Notably, the Depository Trust & Clearing Corporation (DTCC), a significant settlement and clearinghouse in the U.S., recently utilized Chainlink’s cross-chain interoperability protocol in a tokenization pilot with JP Morgan and BNY Mellon, called Smart NAV.<\/p>\n
Further acknowledging its advancements, the crypto investment firm 21Shares highlighted Chainlink’s role in transforming tokenization, enabling transactions exceeding $10 trillion across more than 2,000 projects on 22 networks.<\/p>\n
Despite its recent successes and growing interest, LINK still has a considerable journey ahead, requiring a surge of over 64% to match its all-time high of $52.70 from 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"
While most digital currency markets remained quiet, Chainlink’s LINK token saw remarkable growth thanks to positive developments. Chainlink (LINK) stood out as a top performer, even as U.S. financial markets paused for Memorial Day. Currently standing as the 14th largest cryptocurrency in terms of market capitalization, LINK made significant gains, rising over 10% in the […]<\/p>\n","protected":false},"author":12,"featured_media":12527,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Chainlink's Rapid Growth Driven by Swift Payments Update and Ethereum ETF Progress - Bitrabo","description":"While most digital currency markets remained quiet, Chainlink's LINK token saw remarkable growth thanks to positive developments. Chainlink (LINK) stood out as"},"footnotes":""},"categories":[316],"tags":[1820,596,3395],"class_list":["post-12528","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-chainlink","tag-cryptocurrency","tag-ethereum-etf"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/12528","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=12528"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/12528\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/12527"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=12528"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=12528"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=12528"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}