The LINK token from Chainlink, the decentralized oracle network built on Ethereum, is soaring more than 10% Monday amid new partnerships with traditional financial institutions.
LINK climbed to $6.83 on Monday, gaining just over 10% over the past 24 hours, outperforming the wider crypto market. Bitcoin also gained on the day by 3%. Fundstrat analyst Tom Couture attributes the rally to optimism surrounding Chainlink’s deal with the interbank messaging system SWIFT to scale tokenized asset adoption.
On Monday, Chainlink’s co-founder Sergey Nazarov spoke at SWIFT’s global financial services networking event Sibos. Nazarov and Nigel Dobson, banking services lead at Australia and New Zealand Banking Group (ANZ), dove into