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Chainlink price: LINK eyes new leg up amid ICE collaboration

  • Chainlink price traded around $21.47 on Aug. 11, 2% down from highs of $22.55 in 24 hours. 
  • Ethereum led top altcoins like Bitcoin Cash and BNB higher as it crossed above $4,300.
  • Chainlink’s partnership with  Intercontinental Exchange could be a key catalyst.

Chainlink (LINK) price has retreated 2% in the past 24 hours to trade around $21.47, slightly off its multi-week highs of $22.55.

This bucks the uptick for Bitcoin and top altcoins such as Ethereum, Bitcoin Cash and BNB. LayerZero also rose.

However, as the market digests the potential impact of its latest partnership with Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), could Chainlink price embark on a new leg up to target the all-time high above $52?

Chainlink joins forces with NYSE parent ICE

The Chainlink ecosystem witnessed a major unveiling recently when the oracle networks platform launch Chainlink Data Streams for US stocks and ETFs. Traction for the solution has netted a major partnership as Chainlink collaborates with ICE.

According to a press release, the integration brings high-quality forex and precious metals rates from ICE’s consolidated feed to Chainlink’s Data Streams.

In short, ICE’s Consolidated Feed, which aggregates data from more than 300 global exchanges and marketplaces, has added FX and precious metals rates to the Chainlink Data Streams.

The move allows for the use of the solution to power over 2,000 applications, banks, asset managers, and infrastructure providers across the Chainlink ecosystem.

Benefits include growth in network activity – particularly in tokenized assets and products.

Leveraging ICE’s institutional-grade infrastructure means Chainlink adds to its traction in bridging traditional markets and the DeFi ecosystem.

“Using ICE’s Consolidated Feed data as an input into Chainlink’s derived FX and precious metals rates onchain via Chainlink’s institutional-grade infrastructure is a watershed moment in the evolution of global markets,” said Fernando Vazquez, president, capital markets at Chainlink Labs. “This collaboration signals a pivotal shift towards a unified, globally accessible onchain financial system, with hundreds of trillions in assets on a clear path to tokenization.”

LINK price outlook: Is Chainlink poised to mirror ETH?

Ethereum (ETH), which continues to experience significant price gains amid key institutional demand and treasury interest, trades near $4,300.

The ETH price gain has helped other altcoins higher, hitting highs of $4,363 as Bitcoin Cash, Uniswap, Monero, and BNB rose.

LINK showed similar movement as it rose sharply from lows of $15.60 this past week.

Bulls are signalling resilience with the price above $21, with technical outlook suggesting they could see a new leg up.

The ICE partnership among other integrations, point to real traction and a break to $30 could see Chainlink price target $50 and the altcoin’s all-time high above $52.

If LINK mirrors ETH’s trajectory, it might see a steady climb supported by growing tokenized real-world asset (RWA) markets. On the downside, LINK’s main support areas would be around $20 and $16.

The post Chainlink price: LINK eyes new leg up amid ICE collaboration appeared first on CoinJournal.

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Toncoin outlook as Coinbase Ventures joins TON’s mission to supercharge crypto adoption

  • Coinbase Ventures is officially a Toncoin holder, representing a key endorsement of TON’s mission.
  • The Open Network aims to bring crypto to billions of users through Telegram.
  • Toncoin price flashed bullish sentiments following the revelations.

Most altcoins displayed weakness late on Monday as Bitcoin’s rising dominance dents the altseason narrative.

While BTC sets the market tone, the Ton Foundation announced a significant win for its global vision of making cryptocurrencies accessible to the masses.

The Foundation took it to X to announce that Coinbase Ventures is among the holders of its native token, Toncoin.

While it didn’t disclose the size of their allocation, the move reflects confidence in TON’s digital assets adoption ambitions.

Commenting on the development, the TON team perceives the gestures as:

Another strong sign of belief in our mission: bringing crypto to the masses through Telegram’s billions of users through real utility, real adoption, and real ownership.

The announcement has sparked debates within the Toncoin community, boosting sentiments among holders.

For The Open Network, the investment represents a partnership that could unlock mainstream recognition and global adoption.

The native coin reflected the prevailing optimism with minor price jumps despite a bearish bias in the broad market.

Bringing cryptocurrencies to the masses

TON has a simple and ambitious objectives, which have drawn industry leaders like Verb Technology.

It looks to make crypto part of our day-to-day activities.

The team aims to leverage Telegram’s nearly 1 billion users to create a venue where transferring digital assets is as easy as sending messages.

The Open Network removes daunting technical barriers and complex onboarding processes, focusing on real-world utility integrated within an application that people use daily.

Meanwhile, Coinbase’s support matters for the project.

Coinbase Ventures is among the dominant names in the cryptocurrency sector, known for backing projects that grow into industry leaders.

Coinbase Ventures’ involvement boosts brand exposure, attracting exchange integration and elevating assets’ appeal to retail and institutional investors.

Thus, TON could benefit from increased market reach, strategic connection with Western investors, and attention in the international cryptocurrency conversation.

Toncoin’s team said:

As one of the most recognized investors in the Web3 space, Coinbase Ventures, joining the growing list of Toncoin holders is a major vote of confidence in the future of The Open Network.

Notably, Coinbase Ventures joins other early supporters – Benchmark, Ribbit Capital, and Sequoia Capital.

These companies have gained prominence for spotting lucrative projects long before they attain mainstream recognition.

Toncoin price outlook

The alt trades at $3.37 after gaining 1.7% in the past 24 hours.

Toncoin displays resilience as bearish tendencies dominate the crypto sector.

While continued broad market declines could erase Toncoin’s latest gains, Coinbase Ventures’ support indicates trust in the token’s long-term potential.

Most importantly, developments like these reveal which projects to track amid bull runs.

Toncoin’s current price places it beneath the crucial 0.618 FIB resistance.

The area has historically catalyzed significant trend reversals.

Surpassing this hurdle could trigger gains towards $5.0 – $5.5 and towards all-time highs above $8.

However, failure to hold above the support barrier at $3.0 might herald price dips to the $2.20 foothold.

The post Toncoin outlook as Coinbase Ventures joins TON’s mission to supercharge crypto adoption appeared first on CoinJournal.