Chainlink joined forces with one of the emerging Turkish financial transformation services leaders, BTguru, a move that has seen its native token go parabolic. Chainlink's price pump followed soon after.
This collaboration aims to accelerate the use of tokenized securities by regionally regulated institutions.
Chainlink will help BTguru overcome some ongoing issues in the tokenized asset space through the use of Chainlink's advanced infrastructure.
The Cross-Chain Interoperability Protocol (CCIP), Data Feeds, and Reserve Verification Mechanisms.
Seeking to modernize Turkey's financial ecosystem through increased connectivity, improved data reliability, and compliance with institutional digital assets, this strategic partnership will achieve that goal.
BTguru has earned a reputation for helping financial institutions access the latest technologies to address regulatory complexity and adopt blockchain-enabled finance.
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In 24 hours, LINK jumped by 10%, hitting a record high of $20.10. LINK's market capitalization is $12.82 billion, up 7.08% at the time of writing.
LINK fundamentals have been a strong factor in investor confidence, despite the 24-hour trading volume falling 25.83% to $566.61 million.
Chainlink has a circulating supply of 638.09 million tokens and 1 billion LINK. Additionally, the token's fully diluted valuation (FDV) is estimated at $20.09 billion, as it is gaining a lot of traction.
Market participants say that the growing use of Chainlink and the relevance of its services in institutional finance is driving the price increase.
Addressing key challenges in benchmarked securities
Indicated securities have promise but need a strong infrastructure to reach their full potential.
By integrating Chainlink services, BTguru can address challenges, including access to high-quality off-chain data, secure and trustless cross-chain interoperability, and proof of reserve.
These are all important components of a transparent and trustless Distributed Exchange.
Therefore, tokenized asset price, reference information, and identity verification are based on off-chain data.
Chainlink data feeds enrich those assets with accurate, verifiable data and foster trust and reliability.
In addition, Chainlink Reserve Verification helps reduce the risks of over-distribution attacks, liquidity, and asset valuation, which institutions must consider when managing tokenized securities.
Data synchronization across different blockchains is one of the most important problems in the tokenized asset ecosystem.
The CCIP Chainlink integration provides a smooth exit by harmonizing data, including net asset value (NAV), proof of reserves, and market prices, across chains.
Chainlink Price: Additional Benefits Breakout Signals
Technically, the recent Chainlink price trend shows bullish. On the LINK/USDT 4-hour chart, LINK is out of a descending channel with a breakout, with all the signs showing.
The price of LINK has remained relatively stable, around $20, but the main resistance is at the $24-$25 levels.
LINK has historically been a critical barrier for the $24-$25 range. If the signal goes through, a breakthrough at this level could open the door to further price appreciation, Money Flow Index (MFI) momentum indicators at 56.59 indicate moderate buying strength.
However, traders must be careful about reading too much of a LINK that deals with key resources.
The rally reflects increased market confidence in Chainlink's long-term prospects as more use cases and partnerships are added to the growing list.
Analysts predict that the adoption of Chainlink infrastructure could bring additional benefits in the coming weeks.
Source: https://www.thecoinrepublic.com/2025/01/15/chainlink-thriving-on-new-partnership-price-rallies-10/
