Link Nears 50% Monthly Gain After Major Banking And Government Deals

(MENAFN- Crypto Breaking) Chainlink's LINK token has climbed nearly 50% over the past month, with the latest rally pushing its price above $12 as partnerships with financial institutions and U.S. government entities strengthens the market's focus on the network's role in traditional finance.

LINK gained about 8% in 24 hours on September 4, bringing its market capitalization to roughly $9 billion and placing it among the largest crypto assets by market value. The move has coincided with a broader crypto recovery but has also been supported by several developments involving Chainlink's infrastructure.

Key Takeaways

LINK has gained nearly 50% in one month and recently moved above $12. Chainlink partnered with Bottomline, which serves more than 600 banks and processes over $16 trillion in annual payments. The U.S. Department of Commerce is using Chainlink infrastructure to bring selected economic data onchain. Wyoming has expanded its use of Chainlink for its state-issued stablecoin, while Standard Chartered sees LINK reaching $200 by 2030.

Chainlink Expands Its Connection To Banking Infrastructure

On September 3, when Chainlink announced a strategic partnership with Bottomline, a major provider of payment technology used by hundreds of banks, the news added momentum.

Bottomline's platforms reportedly process more than $16 trillion in payments each year and serve over 600 banks.

Through the agreement, Chainlink will provide an interoperability layer designed to connect existing payment systems with both public and private blockchains.

Notably, the integration is intended to allow financial institutions to use ISO 20022 messages to interact with blockchain-based payment infrastructure without having to build separate connections for individual networks.

The development adds to Chainlink's growing involvement in financial infrastructure as banks and other institutions explore blockchain-based settlement and tokenized assets.

U.S. Government Data Moves Toward The Blockchain

Chainlink has also gained exposure to a U.S. government initiative. On September 1, the project announced that the Department of Commerce would use its infrastructure to make selected economic data available onchain.

The data includes real gross domestic product, the personal consumption expenditures price index and actual final sales to domestic private domestic buyers.

The initiative could allow blockchain applications connected to Chainlink's infrastructure to access updated government economic data, creating another potential use case for decentralized data delivery.

Wyoming Deepens Chainlink Stablecoin Integration

Moreover, Wyoming has also

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