– Chainlink’s Q4 update unveils the project’s plan to support virtual tokenization of Real World Assets on the blockchain.
– Chainlink started with an emphasis on meeting the growing demands of DeFi, the protocol is now focused on developing on-chain economies.
– LINK price climbed nearly 2% in the past 24 hours, the altcoin is likely to make a comeback to $16.62 in December.
In its fourth-quarter 2023 update, Chainlink outlined its three priorities for the upcoming year.Chainlink’s plans are the launch of its Cross-Chain Interoperability Protocol (CCIP), the introduction of a new data solution, and the launch of functions for developers on the blockchain.
Chainlink has shifted its focus from boosting cross-chain transaction speed to meeting the demands of projects that plan on virtual tokenization of Real World Assets (RWAs), making them liquid and more accessible for users.
Also read:
Chainlink data feeds go live on Polygon zkEVM, MATIC price eyes likely recovery
Chainlink to lend momentum to Real World Asset Tokenization
Chainlinklaunched its CCIP technology to secure cross-chain transactions and activity on the blockchain.This was welcomed by banks and financial institutions that engaged Chainlink’s CCIP.
– The blockchain project presented a low-latency data solution, Data Streams, to unlock on-chain derivatives to power dApps.For developers, LINK launched Functions.
– Chainlink’s plan for 2024 is to shift its priority from CCIP technology used by banks and financial institutions to Real World Asset Tokenization.
– RWAs are fungible or non-fungible tokens representing traditional blockchain financial assets.
– LINK plans to aid the RWA revolution, wherein several projects are working on tokenizing assets in the real world and require
Chainlink’stechnology to power the transition.
– Chainlink’s technology supports
DeFi’svalue proposition, it boosts security and reliability through its infrastructure.
LINK price eyes recovery
Crypto analyst behind the X handle @Mangyek0 predicts a 9% to 13% bounce in Chainlink price.The analyst is bullish on LINK, predicting an increase past the $15.5 level, as seen in the chart below.
LINK/USDT 4-hour chart
At the time of writing, LINK price is $14.36 on Binance.
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