Chainlink Soars 14% Following Partnership with NYSE Parent Company, ICE, for Forex Data
Chainlink’s LINK token has seen a surge of over 14% in the wake of a major partnership announcement with Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange. This collaboration aims to integrate ICE’s foreign exchange and precious metals pricing data into Chainlink’s blockchain networks via its Data Streams platform.
The partnership capitalizes on ICE’s Consolidated Feed, a comprehensive data source that aggregates information from over 300 global exchanges and marketplaces. This will provide real-time, institutional-grade pricing information to over 2,000 decentralized applications, banks, and asset managers within the blockchain ecosystem. This significant milestone marks a new era in the convergence of traditional finance and decentralized finance (DeFi) infrastructure.
LINK has seen a gain of 42% over the past week and an impressive 132% annually, positioning it as the 13th-largest cryptocurrency by market capitalization. Coinciding with this partnership is Chainlink’s new token buyback initiative, dubbed “Chainlink Reserve“. This initiative will utilize enterprise revenue to purchase LINK tokens. Analysts are predicting potential price targets of $100 by the end of 2025, with the tokenized real-world assets market projected to reach a staggering $30 trillion by 2034.
Source: Coindesk