Chainlink’s native token, LINK, has jumped 6% in the past day while Bitcoin and Ethereum prices hold steady.

The LINK token is changing hands at $11.01 at the time of writing, according to CoinGecko, having recently settled at a market capitalization of $6.1 billion. The token has roughly doubled its market capitalization since June this year. But it’s still a far way off its all-time high of $22 billion—last seen in May 2021.

Chainlink has been particularly buoyant since debuting its Cross-Chain Interoperability Protocol (CCIP) in July, which is aimed at simplifying cross-chain transactions.

Its early adopters include Avalanche, Ethereum, Optimism, Polygon, as well as DeFi lending protocols Aave and Synthetix. And in September, Chainlink integrated CCIP into the Coinbase-incubated Ethereum layer-2 network Base.

At the time of writing, the world’s oldest and largest crypto asset Bitcoin was trading at $33,654.77 and sitting at a market capitalization of $657 billion. Although it’s down 4% from its high of $35,000 on Wednesday and down 1.5% in the past day, the coin is still up 14% from where it was a week ago.

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Author: Stacy Elliott

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