{"id":303905,"date":"2024-05-17T13:41:24","date_gmt":"2024-05-17T08:11:24","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=303905"},"modified":"2024-05-17T13:41:24","modified_gmt":"2024-05-17T08:11:24","slug":"chainlink-link-price-shoots-15-after-dtcc-partnership-will-the-rally-continue-crypto-news-2","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/chainlink-link-price-shoots-15-after-dtcc-partnership-will-the-rally-continue-crypto-news-2\/","title":{"rendered":"Chainlink (LINK) Price Shoots 15% After DTCC Partnership, Will the Rally Continue? – Crypto News"},"content":{"rendered":"

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Oracle service provider Chainlink (LINK) has seen a strong surge after the news of its partnership with DTCC. The Chainlink (LINK) price<\/a> has surged by a staggering 15% in the last 24 hours, currently trading at $16.09 with a market cap of $9.44 billion. Also, the daily trading volume for LINK has shot up significantly by 200% moving all the way past $1 billion.<\/p>\n

Strong Whale Activity Boosts Chainlink Price<\/h3>\n

On-chain data provider Santiment reported that the recent Chainlink price rally comes on the backdrop of strong LINK whale activity<\/a>, setting it apart from the broader cryptocurrency market.<\/p>\n

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The number of Chainlink whales\u2014addresses holding 100,000 LINK or more\u2014has risen to 564, marking a 4.6% increase in just five weeks. Santiment notes that if social dominance remains steady and FOMO (Fear of Missing Out) does not dominate, bullish conditions could be on the horizon for Chainlink.<\/p>\n

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Courtesy: Santiment<\/a><\/figcaption><\/figure>\n

Partnership With DTCC<\/h3>\n

In a major announcement, blockchain oracle Chainlink joined hands with Depository Trust and Clearing Corporation (DTCC), the world\u2019s largest settlement system. These two players will work along with several top financial banks in the U.S. to boost the tokenization of traditional financial funds.<\/p>\n

<\/p>\n

On Thursday, May 16, DTCC reported that it conducted the Smart NAV Pilot program in order to standardize the method of providing NAV data of funds across different blockchain platforms by leveraging Chainlink\u2019s Cross-Chain Interoperability Protocol (CCIP). DTCC noted<\/a>:<\/p>\n

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\u201cThe pilot found that by delivering structured data on-chain and creating standard roles and processes, foundational data could be embedded into a multitude of on-chain use cases, such as tokenized funds and \u2018bulk consumer\u2019 smart contracts, which are contracts that hold data for multiple funds\u201d.<\/p>\n<\/blockquote>\n

The pilot program has revealed capabilities that could propel future industry exploration and facilitate numerous downstream applications, such as brokerage services, automated data dissemination, and improved access to historical data for funds.<\/p>\n

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Prominent U.S. banking firms that participated in the pilot include American Century Investments, BNY Mellon, Edward Jones, Franklin Templeton, Invesco, JPMorgan, MFS Investment Management, Mid Atlantic Trust, State Street, and U.S. Bank.<\/p>\n

There is growing enthusiasm for real-world asset tokenization among major traditional financial institutions. On March 19, BlackRock<\/a> introduced a tokenized money market fund called BUIDL on the Ethereum network, providing native U.S. dollar yields<\/p>\n

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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills. <\/p>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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Oracle service provider Chainlink (LINK) has seen a strong surge after the news of its partnership with DTCC. The Chainlink (LINK) price has surged by a staggering 15% in the last 24 hours, currently trading at $16.09 with a market cap of $9.44 billion. Also, the daily trading volume for LINK has shot up significantly […]<\/p>\n","protected":false},"author":2,"featured_media":262740,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-303905","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/303905","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=303905"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/303905\/revisions"}],"predecessor-version":[{"id":303911,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/303905\/revisions\/303911"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/262740"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=303905"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=303905"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=303905"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}