Chainlink’s LINK token shows strong performance in the crypto market, surging 22.4% in 24 hours amid broader altcoin momentum, while the network continues expanding its enterprise partnerships and real-world asset capabilities.
Chainlink LINK $8.53 24h volatility: 1.0% Market cap: $6.04 B Vol. 24h: $350.74 M , a fast-growing blockchain ecosystem that enables the mainstream adoption of smart contracts through reliable data, has emerged as a top performer in the ongoing altcoins rally led by Ripple Labs’ XRP XRP $1.41 24h volatility: 0.8% Market cap: $86.02 B Vol. 24h: $2.81 B . The large-cap altcoin, with a fully diluted valuation of over $21 billion and a daily average traded volume of around $6 billion, pumped more than 22.4% in the last 24 hours to trade about $22.92 on Monday, December 2, during mid-New York session.
Following the sustained bullish sentiment in the past five weeks, LINK price has retested this year’s peak, which was set in mid-March. From a technical analysis standpoint, LINK price is on the verge of confirming a bullish trend, through monthly higher highs and higher lows.
Furthermore, the weekly Relative Strength Index (RSI) is on the cusp of rallying above the 70 percent level for the first time since earlier this year. In case of further bullish breakout, LINK price will be aiming for at least $27, which coincides with the 2.618 daily Fibonacci Extension.
Eyes on $LINK pushing to breach the previous yearly high, looking really strong. #Chainlink marines are back in control 💥 pic.twitter.com/rmZYHwmn15
— Crypto Rand (@crypto_rand) December 2, 2024
Chainlink Network Yields Strong Fundamentals
As Coinspeaker has noted, the Chainlink network has grown to be a major enabler of seamless adoption of the multichain web3 ecosystem. The veteran blockchain ecosystem has over the years developed crucial infrastructure to provide smart contract developers with reliable data feeds.
For instance, Chainlink’s data feeds and cross-chain interoperability protocol (CCIP) have been adopted by dozens of companies around the world led by T-Mobile, AAVE, Nexon, GMX, Brazil’s Central Bank, and Swisscom among many others. Consequently, the Chainlink network has so far facilitated more than $17.3 trillion in total transaction value.
In the latest strategic partnership, 21X, a Frankfurt-based fintech company that is developing a blockchain-enabled tokenized exchange, announced that it will tap into the Chainlink network to ensure sustainable and regulated growth.
According to the announcement, 21X’s on-chain trading and settlement system will tap into the Chainlink standard to facilitate interoperable tokenized exchange. Most importantly, the strategic partnership with Chainlink will enable 21X to offer EU-regulated tokenized trading services, which will be unveiled under the supervision of BaFin.
“…We will launch 21X in Q1 2025 on a public permissionless blockchain and look forward to making a variety of tokenized assets accessible to our clients and prospects through CCIP. In addition, Chainlink will provide secure and accurate price data feeds for listed products on 21X,” Max Heinzle, founder and CRO of 21X, noted.
According to Angie Walker, Global Head of Banking and Capital Markets at Chainlink Labs, the Chainlink infrastructure will play a crucial role in the ongoing mainstream adoption of real-world assets (RWA) tokenization.
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