Chainlink Upgrades Cross-Chain Interoperability Protocol, Boosts LINK Price

Chainlink has announced the launch of Cross-Chain Interoperability Protocol (CCIP) v1.5 on mainnet, empowering developers to easily transfer tokens across multiple blockchains.

Key Features of CCIP v1.5:

• Cross-Chain Token (CCT) Standard: Enables developers to create CCTs with full control, enhanced programmability, and zero-slippage transfers.
• Streamlined User Interface: Offers a user-friendly interface for developers to launch and manage CCTs.
• Smart Accounts: Allows for multi-owner approvals for enhanced security.
• Increased Access to Bridged USDC: Facilitates the movement of bridged USDC across chains, improving liquidity and DeFi adoption.

Benefits for Developers:

CCIP v1.5 simplifies the process of transferring tokens and messages across different blockchains, allowing developers to:

• Deploy CCTs in minutes: Easily create and deploy CCTs across more than 20 blockchains.
• Gain full control and ownership: Exercise complete control over their tokens and their cross-chain transfers.
• Enhance programmability: Utilize the flexibility and programmability of the CCT standard.

Market Impact:

The launch of CCIP v1.5 has positively impacted the price of LINK, the native token of Chainlink. LINK experienced a 6% surge on the day of the announcement, reaching an intraday high of $20.60.

Whale Activity:

Santiment data reveals that whales have been actively accumulating LINK, purchasing 1.35 million tokens in the past 24 hours. This buying pressure has pushed LINK back towards resistance at $20, following a dip to $18.24.

Looking Ahead:

The next resistance level for LINK is around $24, the level it last touched on January 6th.

January 2025, Cryptoniteuae