Markets
What to know:
- LINK rose about 6.7% this week, even as Friday attempted a retreat; the ledger hints that institutional appetite and protocol adoption keep the flame alive.
- Plasma has wired its stablecoinPayments-focused blockchain to Chainlink, adopting CCIP, Data Streams and Data Feeds to give developers a sturdy scaffold for stablecoin use cases.
- Swiss bank UBS is piloting Chainlink’s CCIP with SWIFT for tokenized fund operations, a sign that respectable doors are cracking open for the oracle network.
The native token of the oracle network Chainlink pulled back slightly on Friday, yet carved a higher low and posted a 6.7% gain for the week. Price action has been steadied by a string of headlines about institutions and protocols tapping Chainlink’s services-a chorus that sounds suspiciously like normalcy in a world of volatility.
Plasma (XPL) announced on Friday it has joined Chainlink Scale, embedding Chainlink’s oracle services into its stablecoin-focused blockchain. The network has integrated Chainlink’s Cross-chain Interoperability Protocol (CCIP), Data Streams and Data Feeds services, furnishing developers with a durable platform to build stablecoin use cases on Plasma.
“By adopting the Chainlink standard and joining the Chainlink Scale program, Plasma is demonstrating how new layer-1 networks can launch with enterprise-grade stablecoin infrastructure from day one,” said Johann Eid, chief business officer at Chainlink Labs, the development organization behind Chainlink.
The week’s news also follows UBS’s pilot with Chainlink, linking CCIP with SWIFT’s messaging system for tokenized fund operations, a reminder that the world of finance still speaks in letters and numbers even as it pretends to be modern.
Meanwhile, the Chainlink Reserve-a facility that buys tokens on the open market using income from protocol integrations and services-purchased another 46,441 LINK on Thursday, bringing total holdings to over 417,000 tokens, worth about $9.5 million.
Technical indicators signal bullish momentum is returning for LINK, establishing a clear higher low but facing resistance at the $23 level, according to CoinDesk Data’s model.
- LINK traded within a $0.96 range between $22.13 and $23.09, a 4.27% fluctuation over the 24-hour period.
- Key support sits at $22.13, with substantial buying interest at an elevated volume of 1,409,489 units-above the daily average of 1,178,000.
- The chart shows a clear higher low pattern, suggesting renewed upward momentum toward the $23.10 resistance zone.
And so the ledger endures, a stubborn joke about certainty in an uncertain market, with a touch of dry humor: even in a world of data, we still chase the next peak-😂🤖💹
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2025-10-03 22:51