Chainlink prices have soared more than 36% to hit a nearly two-year high, surpassing $26 during late trading on December 2.
LINK has more than doubled its price over the past month, rising from below $11 in early November to today’s peak, which is the highest since January 2022. Most of those gains have come in the last few hours .
The asset had cooled down a bit to trade at just over $24 during the Asian session on Tuesday morning, according to Coingecko.
Chainlink partners with 21X
the couple announced a partnership between Chainlink and 21X, a Frankfurt-based fintech, to develop the first EU-regulated financial market infrastructure for tokenized securities in Europe on December 2.
The platform, scheduled to launch in the first quarter of 2025, will operate under the supervision of Germany’s Federal Financial Supervisory Authority (BaFin) and will leverage Chainlink technology for several key functions.
These include providing secure and accurate pricing information for listed products, enabling cross-chain interoperability through Chainlink’s Cross-Chain Interoperability Protocol (CCIP), and facilitating access to assets and stablecoins across multiple blockchain protocols.
We are pleased to announce Europe’s first tokenized securities trading and settlement system: 21X (@tradeon21x)—is adopting the #chainlink standard.
Price Feeds will support 21X’s trading engine and CCIP will connect it to assets across the on-chain economy: pic.twitter.com/BYKSBGUFp8
– Chain link (@chain link) December 2, 2024
Max Heinzle, founder and CEO of 21X, praised the partnership, adding that they were putting in place “all the necessary elements to launch Europe’s first tokenized securities market infrastructure under the EU DLT regime.”
The partnership aims to support institutional adoption of tokenized securities, enabling the issuance, trading and settlement of stocks, bonds and funds based on smart contracts.
Angie Walker, Global Head of Banking and Capital Markets at Chainlink Labs, stated:
“By leveraging the Chainlink standard, 21X will ensure its matching and settlement system is backed by highly accurate and reliable market data, while CCIP will allow users to access a wide variety of assets from across the digital asset economy.”
Deeper ties with TradFi
On December 3, Chainlink retweeted a blog post from November about its progress with financial institutions and traditional banks, which may have contributed to the momentum.
Some of those partnerships include major TradFi players such as Swift, JPMorgan, Citi Group, Franklin Templeton, Fidelity, Lloyds, ANZ Bank and BNY Mellon.
⬡ Fast
⬡ Depository Trust and Clearing Corporation (DTCC)
⬡ Euroclaro
⬡ Clear stream
⬡ Central Bank of Brazil
⬡JP Morgan
⬡ State Street
⬡UBS
⬡BNY Mellon
⬡ Citi
⬡BNP Paribas
⬡Edward Jones
⬡Franklin Templeton
⬡ Wellington Management
⬡Invesco
⬡ Fidelity… pic.twitter.com/IXVzfCt3Vz– Chain link (@chain link) December 2, 2024
Meanwhile, ecosystem ambassador Zach Rynes said LINK was more of a “banking coin” than XRP.
“Ripple likes to take well-established concepts, repackage them, and present them as something completely new,” he said. saying before highlighting Chainlink’s TradFi links in a separate post on X.
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