Chainlink(LINK)

SBI Group has teamed up with Chainlink to build tokenised funds, stablecoins, and cross-border payment systems in Japan. The deal uses Chainlink’s technology to move assets across blockchains and aims to expand into wider Asian markets.

Mastercard and Chainlink have teamed up to let over 3 billion cardholders buy crypto directly on-chain using their bank cards. The system is already live and involves several partners to handle payments, compliance, and crypto swaps.

JPMorgan settled tokenised US Treasuries on a public blockchain for the first time, linking its private network with a public one using Chainlink’s technology. This marks a significant step towards combining traditional banking systems with decentralised finance.

Chainlink's Digital Asset Sandbox offers a secure, rapid environment for financial institutions to conduct tokenization trials, significantly reducing the time needed to develop and launch digital asset innovations.

DTCC and Chainlink pilot program enhances fund tokenization with standardized NAV data delivery, prompting broader API solutions and minimal market disruption. Participating U.S. banking firms witness improved data management, while Chainlink's token LINK surges 12.5% in response. The initiative aligns with the trend of real-world asset tokenization in traditional finance.

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AVAX experiences a notable surge of 9% following the announcement of its collaboration with Chainlink and ANZ Group. This partnership aims to enhance the interoperability and settlement efficiency of tokenized assets across Avalanche and Ethereum blockchains. ANZ's utilization of Avalanche's Evergreen Subnet further underscores the exploration of innovative blockchain solutions by traditional financial institutions. Despite AVAX's impressive performance, potential resistance around $60 suggests a period of consolidation may follow, emphasizing a cautious outlook amid its upward momentum.

The recent market performance shows significant declines in prices across various cryptocurrencies. Chainlink's LINK/USD dropped by 6.78% in 24 hours, Ethereum's ETH/USD fell by 6.7%, Bitcoin's BTC/USD declined by 6.19%, and Dogecoin's DOGE/USD experienced a 6.3% price drop. These trends indicate a broader downward trend observed over the past week, with decreases ranging from 8.0% to 11.0% across different cryptocurrencies.

While Chainlink ($LINK) witnesses accumulation by whales amidst a market uptrend, its performance relative to other cryptocurrencies prompts mixed assessments regarding its future trajectory.

Chainlink's impressive 8-day climb, breaching $18, hints at $20 potential. Attention and investments rise, but caution warranted as RSI approaches overbought levels. Token unlocking and possible corrections add nuances to LINK's outlook.