Chainlink Price Jumps 12% After Coinbase Adoption
Chainlink (LINK) experienced a significant price surge of 12.03% in the past 24 hours, reaching $12.06 per token with a market capitalization of $9.03 billion. This increase comes as Coinbase has chosen Chainlink to provide price feeds for its tokenized stocks on its Base network.
The adoption of Chainlink's oracle infrastructure by Coinbase is expected to enable the use of blockchain versions of popular US stocks, such as Apple and NVIDIA, in decentralized finance protocols. Tokenized stocks require reliable price data to function effectively, and Chainlink fills this gap.
In related news, Bitwise's Chainlink ETF has been actively buying LINK tokens, accumulating 727,170 tokens at an average price of $7.585 per token over the past week. Analyst Michaël van de Poppe views LINK as being in a bull market and recommends buying dips on this swing trade.