Chainlink

<ul><li>Chainlink&#39;s market cap surged 14%, with 564 whales holding 100K&#43; LINK</li><li>The Smart NAV pilot by DTCC and major banks advances fund tokenization via Chainlink&#39;s CCIP.</li><li>Tokenization gains traction as giants like BlackRock and HSBC seek efficiency and transparency benefits.</li></ul><a href="https://cryptotale.org/chainlinks-buy-signal-sparks-market-interest-whats-next-for-link/" rel="noopener noreferrer nofollow">Chainlink&#39;s </a>market cap has surged by 14% in the past eight hours. As highlighted by <a href="https://x.com/santimentfeed/status/1791288113769386352" rel="noopener noreferrer nofollow">Santiment</a>, a top analytic firm, the number of whales holding over 100K&#43; LINK has grown by 4.6% over the past five weeks, reaching a total of 564. At press time, the live price for Chainlink is <a href="https://coinmarketcap.com/currencies/chainlink/" rel="noopener noreferrer nofollow">$15.81</a>, and its 24-hour trading volume amounts to $951,501,094. This reflects a notable 13.33% increase within the past 24 hours.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/c99c9fd40d264728ae43e92d2b38ee46.png" />The recent uptrend in <a href="https://cryptotale.org/chainlink-surges-10-as-polygons-loss-becomes-its-gain/" rel="noopener noreferrer nofollow">Chainlink&#39;s </a>market performance aligns with the successful completion of a pilot project by the Depository Trust and Clearing Corporation (DTCC). This project, known as Smart NAV, involved multiple major U.S. financial institutions.It aimed to establish a standardized process for bringing and disseminating net asset value (NAV) data of funds across various blockchains using Chainlink’s interoperability protocol, CCIP. This development signifies a crucial step towards the tokenization of funds, leveraging blockchain technology for operational efficiencies and increased transparency.Participants in the Smart NAV pilot included prominent<a href="https://www.binance.com/en/square/post/2024-05-16-dtcc-completes-blockchain-pilot-project-with-chainlink-and-major-u-s-financial-institutions-8188837510841" rel="noopener noreferrer nofollow"> financial entities </a>such as American Century Investments, BNY Mellon, Edward Jones, Franklin Templeton, Invesco, JPMorgan, MFS Investment Management, Mid Atlantic Trust, State Street, and U.S. Bank. The DTCC’s <a href="https://www.dtcc.com/dtcc-connection/articles/2024/may/16/smart-nav-pilot-report-bringing-trusted-data-to-the-blockchain-ecosystem" rel="noopener noreferrer nofollow">report highlighted</a> that the pilot demonstrated the feasibility of delivering structured data on-chain.<a href="https://cryptotale.org/chainlink-surges-14-as-it-completes-pilot-to-accelerate-fund-tokenization/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Chainlink Surges 14% As It Completes Pilot to Accelerate Fund Tokenization

CryptoTale

Other articles published on May 17, 2024

Gamestop (GME) Stock Price Prediction and The Next Big Memecoin

Harga ETH Berikan Sinyal Beragam Pasca Menguat, Ada Tanda Bullish?

Reddit Co-Founder Highlights Democrats Going Against Party to Support Crypto

Senate Votes to Overturn SEC’s Crypto Regulation SAB 121

Bitcoin News: On-Chain Data Signals Potential End of Bull Cycle This Month

Inflows into Bitcoin ETFs Continued for the Fourth Day in a Row! Here are the Details

Join our free newsletter for daily crypto updates!