2024

Chainlink

<p class="is-style-lead">After announcing a new initiative, the Chainlink token has&nbsp;become a growth leader in the crypto market.</p> 
<p>According to <a href="https://coinmarketcap.com/currencies/chainlink/" target="_blank" rel="">CoinMarketCap</a> data, Chainlink (<a href="https://crypto.news/price/Chainlink/" target="_blank" rel="">LINK</a>) has outperformed other cryptocurrencies over the past 24 hours, gaining more than 20%. The coin’s price increased by over $3, rising from $13.69 to $16.71 in a few hours.</p> 
<p>The growth in LINK trading volume was even more remarkable, soaring 335% over the past 24 hours to $1.34 billion.</p> 
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  <img loading="lazy" decoding="async" width="1024" height="569" src="https://crypto.news/app/uploads/2024/05/Screenshot-2024-05-17-at-17.37.47-1-1024x569.png" alt="Chainlink becomes top gainer, surging 20% following DTCC partnership announcement - 21"> 
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  Source: <a href="https://coinmarketcap.com/currencies/chainlink/" target="_blank" rel="">CoinMarketCap</a>
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<p>Santiment data <a href="https://x.com/santimentfeed/status/1791288113769386352" target="_blank" rel="">shows</a> that LINK’s market capitalization surged 14% in eight hours. The number of whales has also increased by more than 4% to more than 564,000 in just five weeks.</p> 
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  <img loading="lazy" decoding="async" width="1024" height="702" src="https://crypto.news/app/uploads/2024/05/Screenshot-2024-05-17-at-17.50.59-1024x702.png" alt="Chainlink becomes top gainer, surging 20% following DTCC partnership announcement - 22"> 
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  Source: <a href="https://x.com/santimentfeed/status/1791288113769386352" target="_blank" rel="">Santiment</a>
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<p>Experts predict that bullish conditions lie ahead if social dominance subsides and fear of missing out (<a href="https://crypto.news/tag/FOMO/" target="_blank" rel="">FOMO</a>) does not take over.</p> 
<h2 class="wp-block-heading" id="why-is-link-surging">Why is LINK surging?</h2> 
<p>LINK’s growth comes shortly after Depository Trust and Clearing Corporation (<a href="https://crypto.news/tag/DTCC/" target="_blank" rel="">DTCC</a>) completed a pilot with blockchain oracle Chainlink and several major U.S. financial institutions.</p> 
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   <p lang="en" dir="ltr">The largest financial institutions in the world are working with <a href="https://twitter.com/hashtag/Chainlink?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">#Chainlink</a> to bring capital markets onchain and access the tokenized asset economy. <br><br>How Chainlink is transforming global finance 🧵</p>— Chainlink (@chainlink) <a href="https://twitter.com/chainlink/status/1791247526944702628?ref_src=twsrc%5Etfw" target="_blank" rel="">May 16, 2024</a>
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<p>The Smart NAV project aims to speed up fund tokenization and create a standardized procedure for generating and distributing net asset value (NAV) data of funds across virtually any private or public blockchain using the Chainlink CCIP interoperability protocol.</p> 
<h2 class="wp-block-heading" id="chainlink-introduces-transporter-for-cross-chain-transfers">Chainlink introduces Transporter for cross-chain transfers</h2> 
<p>Last month, <a href="https://crypto.news/tag/Chainlink/" rel="">the company</a> also <a href="https://crypto.news/chainlink-launches-transporter/" target="_blank" rel="">launched</a> the Transporter app to facilitate the movement of crypto assets and data across multiple networks. The team behind the app said it is a cost-effective solution for transferring high-value tokens across blockchains and provides users with a secure transaction experience.</p> 
<p>The Transporter is already available on a range of blockchains,&nbsp;including <a href="https://crypto.news/tag/Arbitrum/" rel="">Arbitrum</a>, <a href="https://crypto.news/tag/Avalanche/" target="_blank" rel="">Avalanche</a>, <a href="https://crypto.news/tag/Base/" target="_blank" rel="">Base</a>, <a href="https://crypto.news/tag/BNB-Chain/" target="_blank" rel="">BNB Chain</a>, <a href="https://crypto.news/tag/Ethereum/" target="_blank" rel="">Ethereum</a>, <a href="https://crypto.news/tag/Optimism/" target="_blank" rel="">Optimism</a>, <a href="https://crypto.news/tag/Polygon/" target="_blank" rel="">Polygon</a>, and WEMIX, marking Chainlink’s entry into the growing field of blockchain bridges.</p> 
<p> You might also like: <a href="https://crypto.news/chainlink-ccip-adapts-to-general-availability/" rel=""> Chainlink CCIP adapts to general availability </a> </p>

Chainlink becomes top gainer, surging 20% following DTCC partnership announcement

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