Chainlink experiences significant growth becoming top performer with 20 surge after DTCC collaboration reveal
After unveiling a groundbreaking new project, the Chainlink token has emerged as a standout performer in the cryptocurrency market.
Recent data from CoinMarketCap reveals that Chainlink (LINK) has surpassed all other digital currencies, experiencing a remarkable 20% surge in value over the past 24 hours. The coin’s price skyrocketed by more than $3, climbing from $13.69 to $16.71 in just a matter of hours.
Even more impressive is the surge in LINK trading volume, which has skyrocketed by an astounding 335% in the last day to reach $1.34 billion.
Further insights from Santiment data indicate that LINK’s market capitalization has surged by 14% in a mere eight hours. Additionally, the number of whales holding the cryptocurrency has grown by over 4% to exceed 564,000 within a span of five weeks.
Industry experts are optimistic about the future, predicting a bullish market trajectory as long as social dominance remains steady and fear of missing out (FOMO) does not dominate investor sentiment.
The recent surge in LINK’s value is attributed to the successful pilot project conducted by the Depository Trust and Clearing Corporation (DTCC) in collaboration with blockchain oracle Chainlink and several major U.S. financial institutions. The Smart NAV initiative aims to streamline fund tokenization and establish a standardized process for generating and distributing net asset value (NAV) data across various blockchain platforms using the Chainlink CCIP interoperability protocol.
In addition to this milestone, Chainlink recently unveiled the Transporter app, designed to facilitate seamless asset and data transfers across multiple blockchain networks. The app’s development team touts it as a cost-effective solution for transferring high-value tokens between blockchains while ensuring secure transactions for users.
The Transporter app is now accessible on a variety of blockchain networks, including Arbitrum, Avalanche, Base, BNB Chain, Ethereum, Optimism, Polygon, and WEMIX, marking Chainlink’s foray into the expanding realm of blockchain bridges.
For more information, Chainlink CCIP is ready for general availability, showcasing the project’s adaptability and commitment to innovation.
