LINK Rallies By 21% As Market Embraces Chainlink’s CCIP

TL;DR

• LINK is up by more than 20% so far today, outperforming Bitcoin and the other major cryptocurrencies.

• The rally comes a few days after Chainlink released its Cross-Chain Interoperability Protocol (CCIP).

LINK Soars By 21% As Altcoins Record Gains

LINK, the native coin of the Chainlink ecosystem, has surged by more than 20% over the past few hours. The rally has made LINK the best performer amongst the top 100 cryptocurrencies by market cap so far today.

At press time, the price of LINK stands at $8.23, up by 21% in the last 24 hours. The positive performance comes a few days after the Chainlink team announced the release of their Cross-Chain Interoperability Protocol (CCIP).

CCIP is designed to help build cross-chain applications and services. The protocol went live earlier this week, giving early users access to services on the Avalanche, Ethereum, Optimism and Polygon blockchains.

According to the Chainlink team, some of the leading decentralized finance (DeFi) protocols have already adopted CCIP.

Furthermore, SWIFT, a closed network used by banks to make international money transfer, had agreed to use CCIP to connect dozens of financial institutions to blockchain networks. SWIFT will be using CCIP to connect with different blockchains.

Stellar’s XLM continues to rally and is also up by more than 20% in the last 24 hours. Bitcoin is not left behind after the leading cryptocurrency by market cap added 1% to its value today. At press time, Bitcoin is trading at $30,240 per coin.