- Chainlink has partnered with Intercontinental Exchange (NYSE operator) to integrate institutional-grade forex and metals pricing data onto blockchain networks.
- The collaboration provides over 2,000 applications with access to trusted market data from more than 300 global exchanges, enhancing blockchain’s appeal to traditional finance.
- Chainlink has also launched a reserve fund that has already accumulated over US$1 million worth of LINK tokens, with plans to convert more protocol revenue into LINK holdings.
- LINK token has surged 40% this past month to US$21.55, pushing its market cap to US$14.6 billion and elevating it to 11th position amongst cryptocurrencies.
Oracle network Chainlink has landed a deal with Intercontinental Exchange Inc. (NYSE:ICE) to bring forex and metals on-chain.
ICE, the operator of major markets like the NYSE, supplies trusted financial data used by leading banks and asset managers worldwide. Integrating its Consolidated Feed with Chainlink brings institutional-grade pricing on-chain, enabling blockchain applications that meet traditional market standards.
Maurisa Baumann, ICE VP, Global Data Delivery Platforms, said that, “With content from over 300 global exchanges and marketplaces, the ICE Consolidated Feed offers trusted, structured multi-asset class data to banks, asset managers and ISVs located around the world.”
Baumann added that the move is also advancing blockchain adoption:
We’re happy to work with Chainlink to securely and reliably provide data for onchain markets, which is an important step in growing the global blockchain economy.
Maurisa BaumannThe collab gives more than 2,000 apps – including banks and asset managers – access to fast, reliable, tamper-proof market data, helping create new, secure blockchain-based financial products and making on-chain finance more appealing to big institutions.
Related: Chainlink Unveils Real-Time Data Streams for U.S. Stocks and ETFs, Fueling DeFi’s Expansion Into Traditional Finance
LINK Reserve Starts Accumulating
Meanwhile, Chainlink has also launched the Chainlink Reserve, a strategic accumulation of LINK tokens:
In the announcement, Chainlink said they did not expect withdrawals from the Reserve “for multiple years”, adding that it “has already accumulated over $1M worth of LINK from this early-stage launch phase”, adding that the Reserve is “expected to gradually grow in the coming months as more revenue is converted into LINK and placed into the Reserve”.
LINK Price Rallies as Market Cap Eyes Top Ten
LINK, the native token of the Chainlink network, has reacted positively to the developments, rallying over 40% over the past month.
At the time of writing LINK trades hands for US$21.55 (AU$33.06), still almost 60% below its all-time high of US$52.88 (AU$81.15) set in May 2021, over four years ago.
This puts LINK in the same category as many altcoins, which are still waiting for a new high since the days of the 2021 bull market. One such coin is Ethereum, which some predict to go as high as US$15k (AU$23k) this time around.
LINK’s recent surge has moved the network up in terms of market cap too. Currently it sits at spot 11, just behind Cardano (ADA), and has a market cap of US$14.6 billion (AU$22.42 billion).
ADA’s market cap is at US$27.8 billion (AU$42.67 billion), while Hyperliquid (HYPE) trails LINK with US$14.5 billion (AU$22.26 billion).
Related: Bloomberg: Bitcoin Miner MARA Eyes $168M Deal for Majority Stake in French AI Data Firm
Credit: Source link
