Share this article
Chainlink’s LINK Soars, Outperforming Other Crypto Majors
The uptick comes as the company has secured a number of notable partnerships with traditional finance institutions.
Sep 18, 2023, 6:47 p.m.
Make us preferred on Google
The LINK token from Chainlink, the decentralized oracle network built on Ethereum, is soaring more than 10% Monday amid new partnerships with traditional financial institutions.
LINK climbed to $6.83 on Monday, gaining just over 10% over the past 24 hours, outperforming the wider crypto market. Bitcoin also gained on the day by 3%. Fundstrat analyst Tom Couture attributes the rally to optimism surrounding Chainlink’s deal with the interbank messaging system SWIFT to scale tokenized asset adoption.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
On Monday, Chainlink’s co-founder Sergey Nazarov spoke at SWIFT’s global financial services networking event Sibos. Nazarov and Nigel Dobson, banking services lead at Australia and New Zealand Banking Group (ANZ), dove into cross-chain settlement using Chainlink’s Cross-Chain Interoperability Protocol (CCIP).
Chainlink and Depository Trust and Clearing Corporation (DTCC), which processes much of the trading in U.S. markets, announced a collaboration on Swift’s Blockchain interoperability project back in June. Chainlink's CCIP will enable complete interoperability between the source and destination blockchains.
On Wednesday, ANZ also used Chainlink’s CCIP to complete a cross-chain purchase of tokenized assets with A$DC, an ANZ-issued stablecoin tied to the Australian dollar. “This new development builds on the lessons learned from the recent Swift blockchain interoperability initiative and further showcases how financial institutions can utilize CCIP to facilitate cross-chain transactions across public and private blockchains,” Chainlink said on X (formerly known as Twitter).
On-chain data from spotonchain shows that four Chainlink wallets unlocked and transferred out 18.75 million LINK (worth around $117 million) over the weekend. About 15 million LINK tokens were deposited to crypto exchange Binance and 3 million were sent to a multisig address starting with 0xD50f.
Lookonchain noted that the Chainlink wallet has been depositing LINK to Binance every three months since August 2022, totalling over 71 million LINK (worth around $446 million).
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Gold tops $5,000 as bitcoin stalls near $87,000 in widening macro-crypto split: Asia Morning Briefing
Bitcoin’s onchain data points to supply overhang and weak participation, while gold’s breakout is priced by markets as a durable macro regime shift.
What to know:
- Gold’s surge above $5,000 an ounce is increasingly seen as a durable regime shift, with investors treating the metal as a persistent hedge against geopolitical risk, central bank demand and a weaker dollar.
- Bitcoin is stuck near $87,000 in a low-conviction market, as on-chain data show older holders selling into rallies, newer buyers absorbing losses and a heavy supply overhang capping moves toward $100,000.
- Derivatives and prediction markets point to continued consolidation in bitcoin and sustained strength in gold, with thin futures volumes, subdued leverage and weak demand for higher-beta crypto assets like ether reinforcing the cautious tone.
Top Stories
