Chainlink Gaining Momentum as CCIP Testnet Activity Surges – Can LINK Revisit its ATH?
- Chainlink’s CCIP Testnet activity is on the rise, sparking interest in LINK’s potential recovery.
- LINK, Chainlink’s native token, is showing an upward trend, trading at $7.133 on Binance, prompting speculation about reaching its all-time high.
The Chainlink ecosystem is abuzz with increased activity on its Cross Chain Interoperability Protocol (CCIP) testnet. This heightened level of action has not only grabbed attention but also provided a positive outlook for Chainlink’s native token, LINK. The question on everyone’s mind: Can LINK revisit its all-time high?
Chainlink’s Rise: Driven by CCIP Testnet Activity
Chainlink’s CCIP testnet is an innovative platform that securely sends messages, transfers tokens, and initiates actions across various blockchains. The increased activity on this platform is paving the way for Chainlink’s momentum.
Launched on July 20, CCIP became available to developers across five testnets: Arbitrum Goerli, Avalanche Fuji, Ethereum Sepolia, Optimism Goerli, and Polygon. The testnet has noted intriguing movements, such as transfers of the Australian Dollar Digital Coin A$DC, New Zealand Dollar Digital Coin NZ$DC, and Singapore Dollar Digital Coin SG$DC.
Furthermore, the burn-and-mint feature of CCIP has enabled several stablecoin transactions between Ethereum Sepolia and Avalanche Fuji.
LINK’s Current Stance and the Prospect of Reaching ATH
The uptick in Chainlink’s CCIP testnet is reflecting on LINK’s market performance. The price of LINK is now $7.139 on Binance, ascending from its June 19, 2023, low of $4.995.
This momentum has rekindled the interest and speculation among market participants about whether LINK could surge towards its all-time high.
The adoption of Chainlink’s CCIP feature among market players and projects adds substance to the anticipation of LINK’s recovery. Watch @RGottleber’s dev workshop on CCIP & Data Feeds from the event:
#Chainlink is excited to sponsor the @ETHGlobal Superhack virtual hackathon, offering $10K in prizes to the best projects using CCIP on @optimismFND and Data Feeds on @BuildOnBase.
Watch @RGottleber's dev workshop on CCIP & Data Feeds from the event: https://t.co/zthjQrX1O7 pic.twitter.com/bkq3M5vxLP
— Chainlink (@chainlink) August 4, 2023
