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Заголовок Institutions Have Bought Over $30 Million in Chainlink Amid Rising Adoption
Дата 20240703

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============= Обработанный текст:
Institutions Have Bought Over $30 Million in Chainlink Amid Rising Adoption

Institutional investors have recently acquired over $30 million worth of
Chainlink (LINK) tokens.

This significant investment highlights the increasing adoption and trust in
Chainlink s technology across various financial sectors.

Increased Supply Stalls LINK Price Despite Institutional Backing

Sponsored

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According to on-chain analytics platform Lookonchain, 54 new wallets withdrew
2.08 million LINK tokens, valued at $30.28 million, from Binance over the past
week. This indicates substantial interest from institutional investors, likely
driven by Chainlink’s increasing utility in financial services• Экономика » Финансы » Финансовые услуги

• Сфера услуг » Финансовые услуги
and blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн

• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн

interoperability.

One key driver fueling this interest is Chainlink’s Cross-Chain
Interoperability Protocol (CCIP) . This protocol offers a straightforward
interface for decentralized applications (dApps) and Web3 entrepreneurs,
securely addressing their cross-chain needs.

Read more: What Is Chainlink (LINK)?

By enabling the transfer of data, tokens, or a combination of both, CCIP
supports smart contracts and externally owned accounts. This facilitates
seamless interactions across various blockchains.

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Chainlink s CCIP now supports nine major blockchains . These nine
blockchains are Arbitrum , Avalanche , Base, BNB Chain, Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum, Kroma,
Optimism, Polygon, and WEMIX.

This expansion has been pivotal in attracting institutional attention, as it
enhances the utility and reach of Chainlink s services. For instance,
the Depository Trust and Clearing Corporation (DTCC) completed the Smart NAV
pilot earlier in May.

This pilot involved ten market participants using Chainlink’s CCIP to
integrate on-chain data into various blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн

• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
applications. By leveraging
Chainlink’s decentralized oracle network, the pilot ensured the secure and
efficient transmission of net asset value (NAV) data, a crucial metric for
mutual funds.

Additionally, Chainlink s partnerships with several banking institutions
have further cemented its reputation. Institutions like Citi, BNP Paribas• Объект организация » Организации по алфавиту » Организации на Bn » Bnp Paribas,
Lloyds Bank• Объект организация » Организации по алфавиту » Организации на Ll » Lloyds Banking Group

• Объект организация » Организации по алфавиту » Организации на Ll » Lloyd’s » Lloyds Banking Group
, and Deutsche Bank• Объект организация » Организации по алфавиту » Организации на De » Deutsche Bank have also shown interest in Chainlink s
offerings.

Analysts Predict Bull Market for Chainlink Despite Current Challenges

Despite these advancements, Chainlink s price has yet to reflect the
same upward trajectory. Currently, LINK trades at $14.41, a 72.6% decrease
from its all-time high of $52.70 in May 2021.

Analysts attribute this to the increased circulating supply of LINK tokens. In
May 2021, the circulating supply was 425 million tokens, which has since risen
to 608 million as of June 29, 2024.

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LINK Circulating Supply. Source: Dune/synthquest

This significant rise in supply, without a proportional increase in demand,
has led to an oversupply in the market. Eventually, it contributes to the
token s price stagnation.

However, market analysts maintain a positive long-term outlook for LINK .
Crypto analyst Michaël van de Poppe noted a recurring pattern in LINK s
price movements, predicting an imminent bull market phase.

Read more: How To Buy Chainlink (LINK) and Everything You Need To Know LINK
Price Performance. Source: X/CryptoMichNL

LINK has been seeing the same pattern over and over again. First six
months downwards. Second six months bull market. We re in the second
six-month part and are slowly grinding upwards. Good times ahead, van
de Poppe stated .

Trusted

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============= Итог: 2,8051 ; Экономика#Финансы#Платежные средства#Платежные системы интернета #Криптовалюта#Ethereum#Блокчейн 1,3906 ; Экономика#Финансы#Финансовые услуги 2,7660 ; Информационные технологии#Информационно-коммуникационные технологии #Информационные технологии и телекоммуникации#Базы данных #Публичная база транзакций#Блокчейн#Ethereum

============= Объекты: организации Bnp Paribas Deutsche Bank Lloyds Banking Group Lloyd’s

============= Связи: Блокчейн # ассоциации # Ethereum


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