LINK price jumps 10% as Chainlink races toward tokenization of funds

LINK price surged by 10% after the completion of tests between Chainlink and US banking giants, signaling a push towards the tokenization of funds. Participating firms included JPMorgan, Franklin Templeton, Invesco, and BNY Mellon. Sergey Nazarov, the co-founder of Chainlink, highlighted the collaboration of major market players in leveraging blockchain technology, smart contracts, and Oracle networks to solve immediate financial challenges. As a result of this positive news and the overall bullish sentiment in the market, Chainlink’s price experienced a significant increase. The LINK bulls are aiming to break through the $16.863 resistance level and establish it as support, potentially leading to further buying activity. However, stability around the $18.320 mark would make LINK more attractive for potential buyers. On the downside, a collapse below $11.788 could invalidate the bullish outlook.