Chainlink’s native token, LINK (LINK-USD), surged more than 30% on December 3, reaching $26.18—a striking 53% gain over the past week. While XRP also experienced a rally, some in the Chainlink community have positioned LINK as the “true bank coin.” This sentiment stems from its growing adoption by major financial institutions and recent high-profile collaborations.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Analysts Claim LINK as the Real “Bank Coin”
Prominent Chainlink advocate Zach Rynes, known as ChainLinkGod, dismissed XRP as a “banker-themed memecoin” and argued that LINK is doing the real work in connecting banks to blockchains. “Chainlink is working with the largest institutions worldwide,” Rynes stated, pointing to partnerships with financial giants like Euroclear, Swift, and UBS. This argument has gained traction, especially as Chainlink expands its ecosystem to integrate with traditional finance.
Aylo, an adviser to decentralized finance protocol Kamino Finance, suggested that XRP’s recent rally might actually draw attention to Chainlink’s deeper ties with traditional finance. “LINK is XRP,” he noted, emphasizing Chainlink’s collaborations in the space.
Whale Activity Hits an Astounding 1,219% Increase
Adding fuel to LINK’s meteoric rise is an unprecedented surge in whale activity. According to IntoTheBlock, large transactions—transfers over $100,000—skyrocketed by 1,219% in just one day. These massive trades totaled $858 million, suggesting significant accumulation or strategic profit-taking by whales.
Chainlink Strengthens Its Ecosystem
Chainlink’s partnerships keep stacking up. The project recently collaborated with Brazil’s central bank, Microsoft (MSFT), and ANZ Bank (ANZ) on CBDC projects and private blockchain transactions. Notably, its Cross-Chain Interoperability Protocol (CCIP) is gaining traction, further cementing Chainlink as a critical player in decentralized finance and banking innovation.
At the time of writing, LINK is sitting at $24.11, up over 20% in the past 24 hours.
