The recent rise in Chainlink’s price aligns with a noticeable increase in activity from large investors, known as whales, over the past five weeks. Additionally, Chainlink’s new partnership with DTCC has contributed to this momentum.

After announcing its collaboration with the Depository Trust and Clearing Corporation (DTCC), Chainlink (LINK), a provider of Oracle services, has seen a significant price increase. Over the last 24 hours, Chainlink’s price surged by 15%, reaching $16.09, with its market cap climbing to $9.44 billion. Moreover, the daily trading volume for LINK skyrocketed by 200%, surpassing the $1 billion mark.

Santiment, a provider of on-chain data, highlighted that Chainlink’s recent price surge is fueled by increased activity from LINK whales, distinguishing it from the broader cryptocurrency market.

The number of Chainlink whale addresses—those holding 100,000 LINK or more—has grown to 564, a 4.6% increase in just five weeks. Santiment suggests that if social interest remains stable and FOMO (Fear of Missing Out) doesn’t take over, Chainlink could continue to experience bullish trends.

In a significant development, Chainlink has partnered with DTCC, the world’s largest settlement system. Together with several top U.S. financial banks, they aim to advance the tokenization of traditional financial assets.

This pilot program has demonstrated capabilities that could drive future industry developments and support a variety of applications, such as brokerage services, automated data sharing, and enhanced access to historical data for funds.

The U.S. banking firms involved in this pilot include American Century Investments, BNY Mellon, Edward Jones, Franklin Templeton, Invesco, JPMorgan, MFS Investment Management, Mid Atlantic Trust, State Street, and U.S. Bank.

There is a growing interest in real-world asset tokenization among major financial institutions. For instance, on March 19, BlackRock launched a tokenized money market fund called BUIDL on the Ethereum network, offering yields in U.S. dollars.

In summary, Chainlink’s recent price increase is closely tied to heightened activity from major investors and its strategic partnership with DTCC. This collaboration and the rising interest in asset tokenization among financial institutions suggest a promising future for Chainlink and similar initiatives in the blockchain space.

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