From Stagnant To Sizzling: Chainlink Heats Up On USDC Transfer Deal
Portfolio Pulse from Murtuza Merchant
Chainlink (LINK) has integrated Circle's Cross-Chain Transfer Protocol (CCTP) into its Cross-Chain Interoperability Protocol (CCIP), enabling USD Coin (USDC) transfers across multiple blockchains. This move aims to enhance DeFi applications and global payments. LINK's price has risen by 5.7% in the last 24 hours and 11% over the past week, reflecting positive market sentiment. The integration initially covers Ethereum (ETH), Arbitrum (ARB), Optimism (OP), Avalanche (AVAX), and Base (BASE) mainnets, with plans for further expansion.
January 17, 2024 | 8:54 pm
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POSITIVE IMPACT
Chainlink's integration with Circle's CCTP has positively impacted LINK's price, showing a 5.7% increase in 24 hours and 11% over the week.
The integration of CCTP into Chainlink's CCIP is a significant development that has been met with market optimism, as reflected in the price increase of LINK. This enhancement is likely to improve Chainlink's position in the DeFi space, potentially leading to increased demand for LINK in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100