World Liberty acquisition, Emirates NBD cooperation, and Ronin CCIP debut boost Chainlink

On Thursday, Chainlink trades at 15% over mid-November 2021 levels.

On Thursday, Trump-backed World Liberty Financial bought 41,335 LINK tokens worth $1 million, fueling the rise.

Chainlink partnered with Emirates NBD and debuted its CCIP on Ronin on Wednesday.

Technical indicators point to a surge above $38, a three-year high.

Thursday, Chainlink (LINK) price rose more than 15% to levels not seen since mid-November 2021. The rally was driven by World Liberty's $1 million purchase of LINK tokens, Link's partnership with Emirates NBD banking group, and the launch of Link's Cross-Chain Interoperability Protocol (CCIP) on Ronin.

Technical indicators point to a surge above $38, a three-year high.

Why is Chainlink up today?
Chainlink pricing climbs over 15% on Thursday after rising around 38% last week. The primary causes of the price increase are:

First, Lookonchain data shows World Liberty Financial (WFLI) multisig wallet bought 41,335 LINK on Thursday for $1 million. This wallet also bought Ethereum and Aave. LINK rose almost 20% after the announcement.

Emirates NBD announced on Wednesday that Chainlink joined its Digital Asset Lab council as the fifth member.

Third, Chainlink's CCIP launched on Ronin, a major Web3 gaming platform. Users may move tokens between Ethereum, Ronin, and Base via CCIP bridge channels. This allows for extra lanes and chains.

Finally, Coinbase's Project Diamond added Chainlink on Tuesday to boost digital asset usage. Institutions may use Chainlink to handle Project Diamond tokenized asset lifecycles.

Last week, Chainlink's weekly chart shows price movement breaking significantly over $21.54, the 50% price retracement mark from the November 2021 high of $38.31 to the June 2023 low of $4.76. On Thursday, it trades higher at $27.72 after finding support and bouncing off $21.54.

LINK might climb to $38.31, its November 2021 high, if it continues.

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