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Home»ETHEREUM NEWS»Chainlink hits three-year high amid record futures open interest
ETHEREUM NEWS

Chainlink hits three-year high amid record futures open interest

By Crypto FlexsDecember 13, 20242 Mins Read
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Chainlink hits three-year high amid record futures open interest
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Chainlink (LINK) surged to its highest level since January 2022, reaching $29.45 on Thursday as demand for the asset from sophisticated investors continues to grow.

The decentralized oracle network is said to have recorded an increase of 20% in the last seven days and 119% in the past month, making it one of the best-performing cryptocurrencies in recent weeks. CoinGecko data.

The rally came as LINK futures open interest (OI) reached an all-time high of $770.27 million, according to Glassnode data. This figure dwarfs the OI of competitors such as Toncoin (TON)’s $259 million and TRON (TRX)’s $356 million.

Whale activity has been a key driver of LINK price momentum. Trump-backed World Liberty Financial purchased 41,335 LINK tokens worth $1 million on-chain at an average price of $24.19. data It shows.

Chainlink’s expanding ecosystem and latest partnerships were another important factor. Cross-Chain Interoperability Protocol (CCIP) launched on Ronin Network promotion Token transfer between Ethereum, Ronin, and Coinbase-incubating Base blockchains.

Emirates NBD, one of the largest banks in the UAE, coalition We use Chainlink to power digital asset tokenization. Similarly, Coinbase’s Project Diamond integration Chainlink provides infrastructure for tokenized asset management.

Additionally, Chainlink’s collaboration with SWIFT has resulted in institutional payment solutions, and WLFI has adopted Chainlink’s standards for secure on-chain data and cross-chain connectivity.

“Closely linked to Ethereum, Chainlink is a leader in blockchain interoperability,” said Arthur Azizov, CEO of B2BINPAY. decryption. “Specifically, it led the top 10 ERC-20 cryptocurrency projects by developer activity over the past 30 days.”

Chainlink will also work with 21Shares to launch an EU-regulated service for tokenized securities trading and settlement, Azizov added.

Edited by Sebastian Sinclair

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