Chainlink has recently crossed the $11 mark, following the Federal Reserve's rate cut, stirring speculation in the crypto community. Currently, LINK is trading at $11.30, with its support level at $10.02 holding strong, which played a key role in its breakout from $10.83 resistance.
The next Chainlink price target is set at $11.86. If LINK fails to surpass this level, traders should be cautious of a potential pullback to $9.25.
The Future of Chainlink and Real-World Asset Tokenization
At TOKEN2049 Singapore, Chainlink’s co-founder, Sergey Nazarov, discussed exciting possibilities for blockchain. He predicts that real-world asset (RWA) tokenization could soon outgrow cryptocurrencies in value.
Key Tech for Tokenization: Chainlink’s CCIP
Nazarov emphasized Chainlink’s Cross-Chain Interoperability Protocol (CCIP) as a bridge connecting central bank digital currencies (CBDCs), public blockchains, and private financial systems. This technology allows seamless value transfers, boosting interoperability between legacy financial systems and blockchain.
DeFi Meets TradFi: A Huge Opportunity
According to Nazarov, traditional finance (TradFi) will increasingly rely on decentralized finance (DeFi) for asset tokenization, potentially bringing trillions into Web3 as legal frameworks ease globally.
In short, Chainlink is well-positioned at the intersection of DeFi and TradFi, making it one to watch for future growth.
Also Read: Litecoin Price Prediction 2024 – 2030: Will LTC Price Cross $100 in 2024?