- The Chainlink adoption update created 10 integrations of 4 services across multiple chains.
- LINK low number of total holders will rise quickly as tokenization gains momentum.
This week Chainlink [LINK] integrated four of its services into twelve blockchain networks, including Ethereum, Polygon, Linea Build, BNB smart chain, Optimism and Avalanche, among others.
New partnerships were formed with platforms such as MaviaGame, Metis, Beefy Finance, Cryptex Finance and Goldlink Finance.
These developments according to those of Chainlink message on X show that significant progress has been made in expanding the fintech industry.
As these integrations take effect, they are expected to increase Chainlink’s influence and contribute to a potential increase in LINK’s value in the coming months.
Source: Chainlink on X
Tokenized vs. non-tokenized
Tokenization is still in its early stages for Chainlink, with $170 billion in assets already tokenized, while $1.64 trillion remains untokenized.
The growth potential in this area is enormous as more assets move to the blockchain. The real question is how to tokenize real assets without human intervention.
Source: Chainlink on X
Despite significant progress in the LINK blockchain, it remains less popular than other altcoins such as Solana and Ethereum based on the number of holders.
However, the recent updates in LINK adoption could improve LINK’s position if traders and investors support these developments.
This growth potential suggests that LINK’s value could increase as more people recognize its progress and choose to invest in it.
Source: Santiment
Read Chainlink’s [LINK] Price forecast 2024-25
LINK/BTC makes new low
Finally, AMBCrypto analysts have noted that there may be a potential bottom as the LINK/BTC trading cycle has shown weak price action moving to the downside, indicating a possible reversal. This suggests that Chainlink’s price could quickly recover and reach the BTC level of 0.0002000.
The key question now is whether LINK can reach and maintain this level after the adoption updates.
Source: LINK/BTC, TradingView
