Chainlink’s native token LINK surged 29% on Dec. 3 as supporters positioned it as the true “bank money,” drawing comparisons to XRP.
Chainlink’s LINK Token Soars 29% and Is Dubbed Real ‘Bank Money’ by the Community
This surge took LINK from $16.54 a week ago to $26.90, a 53% gain in seven days.
The rally follows a number of developments in Chainlink’s ecosystem and renewed discussions in the crypto community regarding LINK’s role in connecting blockchain networks to traditional financial systems.
LINK’s rise coincided with a notable rally by XRP, which climbed to $2.46 before recently pulling back.
XRP’s rally comes as investors await regulatory clarity and progress on Ripple’s stablecoin and central bank digital currency (CBDC) initiatives.
But some Chainlink advocates argue that LINK’s partnerships with major financial institutions make it a real contender for the title of “bank money.”
Researcher and Kamino Finance advisor Aylo suggested that XRP’s recent rally could help shed light on Chainlink’s growing presence in traditional finance.
Chainlink supporter Zach Rynes, known as ChainLinkGod on X, claimed that LINK is the real “bank money” due to Chainlink’s collaborations with global financial institutions. He emphasized the project’s integration with major banks, saying:
“All of this and more is not speculation or wishful thinking, but actual work that Chainlink does with financial institutions, as described by the banks themselves.”
In response, Rynes dismissed XRP as a “banker-themed memecoin” that failed to gain meaningful adoption for cross-border payments.
He argued that stablecoins and CBDCs have made bridge currencies like XRP obsolete, which is why Ripple is turning to stablecoins and custodial services.
*This is not investment advice.