Chainlink (LINK), the native token of the decentralized oracle network, recorded a slight pullback on Friday before establishing a higher low pattern, extending its weekly gain to 6.7%. The price fluctuation occurred within a narrow range between $22.13 and $23.09, reflecting a 4.27% movement during the session.
The recent momentum follows a strategic development by the Plasma network (XPL), which announced its participation in the Chainlink Scale program. Plasma integrated key Chainlink services, including the Cross-Chain Interoperability Protocol (CCIP), Data Streams and Data Feeds, to support its stablecoin-focused blockchain infrastructure.
Through CCIP, Plasma can enable secure token transfers and messaging across diverse blockchains, while Data Streams offers sub-second latency market data for stablecoin payments. Data Feeds ensure reliable pricing information for on-chain applications, facilitating stable value transfer mechanisms and automated settlement processes.
Swiss banking firm UBS initiated a pilot with Chainlink earlier in the week, leveraging CCIP to integrate tokenized fund operations with the SWIFT messaging system. This institutional experiment underscores growing adoption of Chainlink’s interoperability solutions within traditional financial workflows.
The Chainlink Reserve, which purchases tokens using revenue from protocol integrations, added 46,441 LINK on Thursday, bringing total holdings to over 417,000 tokens valued at $9.5 million. This activity supports token scarcity and underscores confidence in network usage growth.
Technical analysis from CoinDesk Data highlights potential upside toward the $23.10 resistance zone, provided LINK sustains above the established higher low. Intraday support at $22.13 and volume metrics suggest continued buying interest at current levels.
Deployment of Chainlink’s enterprise-grade oracle services on Plasma is expected to attract developers building decentralized finance applications. The integration reduces time-to-market for stablecoin issuance and payment protocols, offering turnkey oracle infrastructure out of the box.
As adoption metrics rise, stakeholders anticipate further ecosystem growth through additional network integrations and institutional pilots. Chainlink’s expanding toolkit of oracle solutions positions it as a critical middleware layer for the emerging tokenized asset economy.
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