LINK price analysis as Hong Kong taps Chainlink for CBDC pilot project
The post LINK price analysis as Hong Kong taps Chainlink for CBDC pilot project appeared on BitcoinEthereumNews.com.
Chainlink enables CBDC-stablecoin swap in HK pilot. LINK breaks $15 as volatility drops and momentum builds. Rising LINK derivatives signal strong bullish positioning. Chainlink (LINK) has captured fresh investor interest after Chainlink’s CCIP successfully enabled a Hong Kong CBDC and an Australian dollar stablecoin swap. We’re excited to share that Chainlink is facilitating the secure exchange of a Hong Kong CBDC and an Australian dollar stablecoin as part of an ongoing use case in Phase 2 of the e-HKD+ Pilot Program. Congratulations to participants @Visa, ANZ, China AMC, and Fidelity… pic.twitter.com/ts2C6Vt4Ul — Chainlink (@chainlink) June 9, 2025 Following the announcement, LINK rebounded from a key support level and surged past $15.00, buoyed by both technical strength and growing real-world adoption of Chainlink’s CCIP. Notably, Chainlink’s role in enabling cross-border payments has reignited optimism about the long-term value proposition of its native token, LINK. LINK price edges higher as volatility tightens and momentum builds LINK is currently trading near $15.08 after posting a 9.1% gain over the past 24 hours, outperforming both Bitcoin (BTC) and Ethereum (ETH) in relative terms. LINK’s current surge comes on the back of a strong rebound from the $12.64 support level, where bulls defended aggressively following weeks of downward consolidation. A clear V-shaped recovery has now emerged on the daily chart, with LINK pushing through the $14.10 resistance cluster and approaching the next critical zone between $14.49 and $15.22. In addition, technical indicators reveal a tightening volatility regime, with 30-day volatility dropping to 60.80% from a recent peak of 81.11%, suggesting an impending breakout. Rising derivatives volume — up 28.25% to $621.23 million — and a 3.02% increase in Open Interest to $587.42 million show that traders are positioning for a continuation move. Despite an increase of 36,286 LINK on exchanges, likely indicating strategic positioning, momentum…
Filed under: News - @ June 10, 2025 4:29 pm