Chainlink's (LINK) token delighted its investors with a significant upward movement, reaching its highest level in 22 months.
Chainlink's LINK Token Reaches 22-Month High
The world's 13th largest cryptocurrency rose above $18, its highest level since April 3, 2022.
This represents a 15% gain on a 24-hour basis and a nearly 30% increase in a week, outperforming major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH).
This rally marks the break of the three-month rally from the $13 to $17 range and suggests a continuation of the return from lows around $5 in June 2023.
Over the years, Chainlink has become a crucial part of the crypto industry infrastructure by combining blockchains with external data through its Oracles and wide range of partnerships.
Its blockchain-agnostic infrastructure ensures compatibility with various blockchains and enables smooth and secure transfer of coins from one blockchain to another.
“Traditional financial institutions need data, computation and cross-chain capabilities to adopt blockchains and tokenized real-world assets (RWAs) at scale. Only the Chainlink platform provides all three,” Chainlink said earlier this week.
Last month, K33 Research analysts suggested that LINK was the safest way to benefit from the increasingly powerful narrative around the tokenization of real-world assets.
Tokenization allows assets such as gold, stocks, and real estate to be bought and sold as digital tokens on a blockchain. According to Boston Consultancy Group, tokenized RWAs could be worth $16 trillion by 2030.
*This is not investment advice.
