- Chainlink adoption update has made 10 integrations of 4 services across multiple chains.
- LINK low number of total holders to surge soon as tokenization gains traction.
This week, Chainlink [LINK] integrated four of its services across 12 blockchain networks, including Ethereum, Polygon, Linea Build, BNB smart chain, Optimism and Avalanche among others.
New partnerships were formed with platforms like MaviaGame, Metis, Beefy Finance, Cryptex Finance and Goldlink Finance.
These developments as per Chainlink’s post on X showcase significant progress in expansion in the fintech industry.
As these integrations take effect, they are expected to boost Chainlink’s influence and contribute to a potential rise in the value of LINK in the coming months.
Source: Chainlink on X
Tokenized vs untokenized
Tokenization is still in its early stages for Chainlink, with $170 billion in assets already tokenized, while $1.64 quadrillion remains untokenized.
The growth potential in this area is enormous as more assets transition to the blockchain. The real question is how to tokenize real-world assets without human involvement.
Source: Chainlink on X
Despite significant advancements in the LINK blockchain, it remains less popular than other altcoins like Solana and Ethereum based on the number of holders.
However, the recent updates in LINK’s adoption could improve its standing if traders and investors support these developments.
This growth potential suggests that the value of LINK may increase as more people recognize its advancements and choose to invest in it.
Source: Santiment
Read Chainlink’s [LINK] Price Prediction 2024-25
LINK/BTC makes new low
Lastly, AMBCrypto analysts identified that a potential bottom may be in as the LINK/BTC trading cycle has shown weak price action going down indicating a possible reversal, suggesting that Chainlink’s price may soon recover and reach the 0.0002000 BTC level.
The key question now is whether LINK can achieve and maintain this level after the adoption updates.
Source: LINK/BTC, TradingView
Powered by WPeMatico
