Chainlink Becomes Top Gainer, Rising 20% ​​After DTCC Partnership Announcement

After announcing a new initiative, the Chainlink token has become a growth leader in the crypto market.

According to CoinMarketCap data, chain link (LINK) has outperformed other cryptocurrencies in the last 24 hours, gaining more than 20%. The coin’s price increased by more than $3, going from $13.69 to $16.71 in just a few hours.

The growth in LINK’s trading volume was even more notable, rising 335% in the last 24 hours to $1.34 billion.

Source: CoinMarketCap

Sentiment data show that LINK’s market capitalization increased by 14% in eight hours. The number of whales also increased by more than 4% to more than 564,000 in just five weeks.

Source: Sanction

Experts predict bullish conditions to come if social dominance wanes and fear of missing out (FOMO) does not assume.

Why is LINK increasing?

LINK’s growth comes on the heels of Depository Trust and Clearing Corporation (DTCC) has completed a pilot with blockchain oracle Chainlink and several large US financial institutions.

The Smart NAV project aims to accelerate fund tokenization and create a standardized procedure for generating and distributing fund net asset value (NAV) data on virtually any private or public blockchain using the Chainlink CCIP interoperability protocol.

Chainlink introduces Transporter for cross-chain transfers

Last month, the company also released the Transporter app to facilitate the movement of crypto assets and data across multiple networks. The team behind the app said it is a cost-effective solution for transferring high-value tokens between blockchains and provides users with a secure transaction experience.

Transporter is now available on a variety of blockchains, including Arbitration, Avalanche, Base, BNB Chain, Ethereum, Optimism, Polygonand WEMIX, marking Chainlink’s entry into the growing field of blockchain bridges.

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