Chainlink (LINK) has experienced a significant surge in price as its Total Value Secured (TVS) reaches $23.5 billion. This rise in TVS can be attributed to the growing demand for tokenisation and the advancements in Chainlink’s oracle features.
Recently, the Depository Trust and Clearing Corporation (DTCC) conducted a successful pilot program in collaboration with Chainlink. This program involved prominent financial institutions such as Blackrock, Franklin Templeton, BNY Mellon, and Edward Jones. Chainlink’s oracle features acted as a bridge between blockchains and the outside world, enabling the transformation of data from external sources for use in the blockchain industry.
The significance of Chainlink’s role in tokenisation is expected to drive further growth. Ondo Finance and Securitize have already attracted billions of dollars in assets, indicating the potential for expansion in this industry.
In terms of price prediction, the LINK token has experienced a rebound from its lowest swing at $11.94 to reach a high of $17.12. It has surpassed key resistance levels and crossed the 100-day and 50-day Exponential Moving Averages (EMA). Technical indicators such as the MACD and the Relative Strength Index (RSI) also point towards an upward trend.
Considering these factors, analysts anticipate further price appreciation for Chainlink. If the token continues to rise, the next important level to monitor is the 23.6% retracement point at $18.70.
Overall, Chainlink’s increasing TVS and its role in tokenisation suggest a positive outlook for the LINK token’s price.