Chainlink continued to post bullish performance in September, boasting a 40% YTD surge.
The accumulation of whale entities coincided with LINK’s price appreciation seen over the past several weeks. LINK’s climb has been steady, notching over 32% monthly, which catapulted the asset to $7.8. This upward price action subsequently pushed LINK’s year-to-date gains to approximately 40%.
However, LINK is currently attempting to reclaim its 2023 peak near $8.5. This level has proved to be a strong resistance area as the asset faced several rejections since April. A continued buying activity, on the other hand, could flip this long-running trend to favor bulls.The development side of things, especially Chainlink’s CCIP protocol, could potentially be another driver contributing to the newfound interest in the asset.
The study purportedly showcased how financial institutions can offer access to tokenized assets via blockchain technology. Most notably, it highlights a seamless route for banks to execute cross-border settlements more swiftly and efficiently.
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