Impact

USDC

Chainlink

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/chainlink-experiences-surge-as-tokenization-wave-attracts-big-investors" rel="noopener noreferrer nofollow">Chainlink Experiences Surge as Tokenization Wave Attracts Big Investors</a><br></p>
<p style="text-align: justify">The recent trend of representing tangible assets digitally through tokenization has sparked a substantial uptick in <a href="https://en.bitcoinhaber.net/chainlinks-enduring-appeal-analyst-inmortal-highlights-links-positive-trajectory" rel="noopener noreferrer nofollow">Chainlink</a>‘s market value. With a 40% rise in its price over a month, Chainlink (LINK) has caught the attention of major investors, with crypto whales acquiring over $50 million in tokens. Analysis by Lookonchain highlights significant purchases of LINK tokens from Binance by new wallets believed to belong to these whales.</p>
<h2 id="whale-investors-bet-big-on-link">Whale Investors Bet Big on LINK</h2>
<p style="text-align: justify">On-chain data scrutiny by Lookonchain revealed that 49 new wallets have been set up to procure 2.7 million LINK tokens, coinciding with Chainlink’s market capitalization soaring past $10 billion. The largest transaction from these wallets saw over $9 million in LINK tokens moved from exchanges in ten days. Each involved wallet’s holdings ranged from a few hundred thousand dollars to several million worth of LINK.</p>
<h2 id="chainlink-s-strategic-moves-and-market-impact">Chainlink’s Strategic Moves and Market Impact</h2>
<p style="text-align: justify">Market analysts from K33 Research have identified Chainlink as a secure channel to benefit from the wave of tokenizing real-world assets such as gold, stocks, and real estate. The Boston Consulting Group forecasts that by 2030, tokenized real-world assets could amass a market value of $16 trillion. In a strategic expansion, Chainlink connected its protocols with those of Circle’s stablecoin framework to streamline USDC stablecoin transfers across chains.</p>
<p style="text-align: justify">CoinGlass data shows that the dollar value of Chainlink’s open futures contracts has more than doubled recently, hitting $520 million. The cryptocurrency’s open interest saw a 62% hike, translating to nearly 30 million LINK. This surge in open interest is indicative of fresh liquidity entering the market.</p>
<p style="text-align: justify">Despite these positive indicators, LINK’s price faced a minor slip of 2% in the latest 24-hour period to $18.32, with a corresponding 20% drop in trading volume to $634 million, demonstrating the market’s volatility.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/chainlink-experiences-surge-as-tokenization-wave-attracts-big-investors" rel="noopener noreferrer nofollow">Chainlink Experiences Surge as Tokenization Wave Attracts Big Investors</a></h5>

Chainlink Experiences Surge as Tokenization Wave Attracts Big Investors

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