$LINK
Chainlink’s Partnership and Market Growth
• Chainlink has partnered with 21X, an EU-based firm preparing to launch a regulated tokenized asset settlement platform in Q1 2025.
• This partnership will leverage Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to enable asset settlement across multiple chains and provide reliable oracle data for tokenized stocks, bonds, funds, and stablecoins.
• The project aligns with the EU’s strict regulatory requirements for tokenized assets, including stablecoins, under the proposed DLT legal framework.
Recent Developments and Rally
• Chainlink has rallied ahead of an anticipated announcement on December 10, involving potential partnerships, with speculation of prominent figures like BlackRock’s Larry Fink being involved.
• LINK has emerged as a leader in the oracle services market, securing $37.29 billion in notional value and surpassing competitors like Chronicle and Pyth.
• Chainlink’s CCIP has strengthened its position in the DeFi ecosystem, particularly through stablecoin integrations like USDC.
Market Performance
• LINK reached a 2024 record price of $24, its highest since January 2022, with daily trading volumes exceeding $6.5billion.
• Over 50% of the LINK supply was traded within 24 hours during this rally, reflecting high liquidity and strong community support.
• Analysts predict LINK might surpass its all-time high of $50 and enter price discovery, potentially exceeding $90.
Conclusion
Chainlink’s integration with 21X positions it as a key player in the regulated tokenized asset ecosystem, especially in the EU. Its CCIP and oracle solutions are setting standards for interoperability and financial data accuracy in both crypto and traditional finance. The recent market rally underscores the community’s confidence and LINK’s potential as a leader in the evolving Web3 and DeFi landscapes.
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