During the recent Memorial Day holiday in the United States, while many financial markets took a break, the cryptocurrency scene was far from quiet. One standout performer was Chainlink (LINK), a cryptocurrency that operates as an oracle on Ethereum. LINK is currently trading at around US$18.23, marking a 5% increase in the last 24 hours.
This surge in price can be attributed to the optimism generated by the news of a joint presentation between Chainlink and international payments platform Swift at the Consensys conference, held in Austin, Texas this week. The collaboration, which began last fall, showcased the integration of existing infrastructure with new blockchain technologies, as emphasized by Chainlink.
Sergey Nazarov, co-founder of Chainlink, expressed his enthusiasm for the future of Ethereum and other digital assets following the recent approval of Ethereum-based ETFs. Nazarov believes that this is just the beginning, and anticipates the inclusion of several other tokens in ETFs, which would facilitate greater interaction between global capital markets and these financial products.
Chainlink is also making significant advancements in its network, currently operating on nine different blockchains including Ethereum, Arbitrum, Polygon, and Base. Earlier this month, the DTCC, the largest clearing house in the US, announced its use of Chainlink’s cross-chain interoperability protocol in a tokenization project with JP Morgan and BNY Mellon.
In its weekly newsletter, cryptocurrency investment firm 21Shares highlighted Chainlink, emphasizing its revolutionary role in tokenization and its contribution to transactions worth over US$10 trillion across more than 2,000 projects spread across 22 different networks.
Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing or trading cryptocurrencies carries the risk of financial loss.
Editor’s Choice: Chainlink’s price has risen to a record high while the broader market experiences a decline. The number of Ethereum wallets has also surged due to positive sentiment driven by ETFs.