bullish

Hedera

DeFi

Foundation

Chainlink

<ul>
 <li>Hedera’s HBAR Foundation has announced a collaboration with Chainlink that will provide Hedera developers with Chainlink’s data feeds and cross-chain interoperability through the Chainlink Scale program.</li>
 <li>Following the collaboration, Chainlink has undergone a notable surge with analysts suggesting that if the current bullish momentum holds, LINK could rally to $20.</li>
</ul>
Chainlink, created in 2017, has experienced a noticeable surge in its price. LINK climbed approximately 5% to $11.74. This rise comes after Chainlink <a href="https://x.com/chainlink/status/1851323675330347069" target="_blank" rel="noopener noreferrer nofollow">announced</a> via the X platform that&nbsp; HBAR Foundation, which supports the Hedera ecosystem’s sustainable growth and long-term adoption, has joined the Chainlink Scale program.&nbsp;
This significant collaboration via the Chainlink Scale program aims to provide developers on Hedera with greater access to the token’s data feeds and popular cross-chain interoperability solutions. This, on the other hand, will ensure that Hedera can facilitate more complex dApps.&nbsp;
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 .<a href="https://twitter.com/HBAR_foundation?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@HBAR_foundation</a> has joined Chainlink Scale, with Chainlink Data Feeds now live on <a href="https://twitter.com/hedera?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@hedera</a> Testnet.
 Additionally, Chainlink CCIP is being integrated on Hedera.<a href="https://twitter.com/hashtag/RoadToSmartCon?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#RoadToSmartCon</a><a href="https://t.co/H3EXvvvpxh" rel="noopener noreferrer nofollow">https://t.co/H3EXvvvpxh</a> <a href="https://t.co/MbKeSJMtum" rel="noopener noreferrer nofollow">pic.twitter.com/MbKeSJMtum</a>
 — Chainlink (@chainlink) <a href="https://twitter.com/chainlink/status/1851323675330347069?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 29, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
It is worth noting that the two are not making a collaborative appearance for the first time. Going back to 2021, Chainlink became the first Web 3 solution to join the Hedera Governing Council.
The HBAR Foundation collaboration in the Scale program has equipped Hedera’s ecosystem with Chainlink’s reliable data feeds not forgetting the robust Cross-Chain Interoperability Protocol on the Hedera testnet. In this, Hedera gains Chainlink’s oracle solutions, which offer Sybil-resistant nodes, maintaining secure data transmission even under heavy network load
Chief Business Officer at Chainlink Labs, Johann Eid, showcased great enthusiasm for the partnership, stating,&nbsp;
<blockquote>
 We’re excited that HBAR Foundation has joined Chainlink Scale. By empowering Hedera developers with increased access to Chainlink services, they’re able to build secure, scalable, and fully-featured dApps, driving the mass adoption of on-chain ecosystems.
</blockquote>
A key component of this partnership is Chainlink’s Cross-Chain Interoperability Protocol (CCIP), a tool that will streamline cross-chain token transfers and programmable transactions. CCIP’s plug-and-play solution simplifies the often complex processes of token minting and burning across different blockchains.&nbsp;
This feature promises to support more complex cross-chain <a href="https://www.ethnews.com/unlocking-value-with-hedera-archaxex-pioneers-financial-innovation-through-web3-and-rwa-tokenization/" target="_blank" rel="noopener noreferrer nofollow">applications</a> on Hedera, attracting even more retail and institutional DeFi users through upgraded token accessibility and usability.
Elaine Song, Vice President of Strategy at the HBAR Foundation, taking note of the potential the collaboration holds highlighted that:
<blockquote>
 Chainlink Data Feeds support the creation of high-quality retail and institutional DeFi apps, and CCIP’s secure cross-chain interoperability ensures they’ll be accessible to more people without sacrificing UX.
</blockquote>
Taking a peek at LINK, the token has positively responded to the collaboration. In fact, LINK is swapping hands with $12.27 marking a 2.62% and 7.38% surge in the past 24 hours and past week respectively.&nbsp;
Additionally, LINK’s market cap and 24-hour trading volume have undergone surges marking 2.11% and 19.65% respectively.&nbsp;
On top of that, analysts suggest that if the current <a href="https://www.ethnews.com/the-bullish-case-for-chainlink-price-hits-11-96-with-potential-resistance-breakout-ahead/" target="_blank" rel="noopener noreferrer nofollow">bullish momentum</a> holds, LINK could rally to $20, representing an 80% increase from the current price level. Additionally, this potential rally has been supported by an ascending triangle pattern and the escalating trading volume.
The post <a href="https://www.ethnews.com/link-price-soars-as-chainlink-announces-partnership-with-hederas-hbar-foundation/" rel="noopener noreferrer nofollow">LINK Price Soars as Chainlink Announces Partnership with Hedera’s HBAR Foundation</a> appeared first on <a href="https://www.ethnews.com" rel="noopener noreferrer nofollow">ETHNews</a>.

LINK Price Soars as Chainlink Announces Partnership with Hedera’s HBAR Foundation

ETHNews

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