LINK Gains Momentum as Plasma Integrates Chainlink Services
Chainlink’s LINK token strengthened on Friday, forming a higher low and closing the week with a 6.7% gain, driven by institutional and protocol adoption of its oracle and data solutions.
Plasma (XPL) announced it has joined Chainlink Scale, integrating Cross-chain Interoperability Protocol (CCIP), Data Streams, and Data Feeds to support stablecoin use cases on its blockchain. This integration provides developers with enterprise-grade infrastructure for building stablecoin applications from launch.
“By adopting the Chainlink standard and joining Chainlink Scale, Plasma shows how new layer-1 networks can launch with robust stablecoin infrastructure from day one,” said Johann Eid, Chief Business Officer at Chainlink Labs.
The announcement comes shortly after Swiss bank UBS began a pilot integrating Chainlink’s CCIP with SWIFT messaging to facilitate tokenized fund operations, highlighting growing institutional adoption.
Chainlink Reserve Activity
The Chainlink Reserve, which acquires LINK using revenue from protocol integrations, purchased 46,441 LINK on Thursday, bringing total holdings to over 417,000 tokens (roughly $9.5 million).
Technical Overview
- Price Range: $22.13–$23.09, a 4.27% intraday movement.
- Support: $22.13, reinforced by elevated volume of 1,409,489 units (above the 1,178,000 daily average).
- Resistance: $23–$23.10, limiting short-term gains.
- Momentum: LINK’s higher low formation signals returning bullish momentum, with potential upside toward the $23.10 zone.
