LINK Rallies as Plasma Stablecoin Network Integrates Chainlink Services
Chainlink’s LINK token showed renewed strength on Friday, establishing a higher low and posting a 6.7% weekly gain, fueled by growing adoption of its oracle and data services by institutions and protocols.
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. The adoption allows developers to build robust, enterprise-grade stablecoin applications from day one.
“By joining the Chainlink Scale program, Plasma demonstrates how new layer-1 networks can launch with reliable stablecoin infrastructure right out of the gate,” said Johann Eid, Chief Business Officer at Chainlink Labs.
Earlier this week, Swiss bank UBS launched a pilot integrating Chainlink’s CCIP with SWIFT messaging to facilitate tokenized fund operations, highlighting institutional interest in Chainlink’s solutions.
Chainlink Reserve Activity
The Chainlink Reserve, which buys LINK using revenue from protocol integrations, added 46,441 LINK on Thursday, bringing total holdings above 417,000 tokens (around $9.5 million).
Technical Overview
- Price Range: $22.13–$23.09, a 4.27% intraday fluctuation.
- Support: $22.13, backed by strong buying volume of 1,409,489 units, above the daily average.
- Resistance: $23–$23.10 remains the near-term ceiling.
- Momentum: LINK formed a higher low, signaling renewed bullish momentum and potential upside toward the $23.10 zone.
