Chainlink Price Could Break Above $12 As SWIFT Unveils Global RWA Infrastructure
The post Chainlink Price Could Break Above $12 As SWIFT Unveils Global RWA Infrastructure appeared on BitcoinEthereumNews.com.
Chainlink price has been rising for the past five days, occasionally finding some resistance around $10.60. Overall, LINK price is tied between a bearish and a bullish pattern, with volume and market sentiment deciding which formation will take the day. Meanwhile, SWIFT unveiled a global infrastructure to simplify tokenized asset transfers. This might become a bullish signal for Chainlink, as the two entities have been working together to bring TradFi data on-chain. Can Chainlink Price Benefit From SWIFT RWA Play? SWIFT, the world’s leading provider of secure financial messaging services, announced a new initiative to streamline the process of tokenized asset transfers. Under the initiative, security buyers can settle, and exchange tokenized assets on the Swift network in real time. The new initiative will focus on the global trading of real-world assets (RWA), as experts anticipate the industry will grow to a $30 trillion valuation by 2034. Chainlink is a key player in the RWA industry because its cross-chain interoperability protocol (CCIP) provides connectivity between a wide variety of on-chain environments. pic.twitter.com/LgH6d4J5Sj — Chainlink (@chainlink) September 11, 2024 Additionally, Swift plans to test multi-ledger Delivery-versus-Payment (DvP) and Payment-versus-Payment (PvP) transactions on its global platform, a service Chainlink is already offering via its CCIP. All Chainlink services are paid for using LINK tokens, which must be purchased on the open market. An increase in demand for Chainlink’s array of services could lead to a surge in the price of LINK, well above $12. LINK Social Dominance Experiences a Spike Data from Sentiment shows Chainlink’s social dominance increased in the last 24 hours as discussions involving ‘LINK’ as a keyword across social media hit a yearly high. At the same time, the number of Chainlink wallets with a balance dropped by 1,867 in the last month. Combining these metrics produces a bullish…
Filed under: News - @ September 12, 2024 6:26 am