Key facts
- Bitcoin is trading below $80,000, facing resistance near $82,000.
- Chainlink's token (LINK) reached a high of $13.64, up 6.8% in 24 hours.
- Chainlink partnered with Bottomline, a SWIFT services provider, to connect over 600 banks to blockchain settlement.
- The partnership will utilize Chainlink's CCIP and CRE to facilitate tokenized value movement and payment workflows.
- Charles Schwab is expanding its crypto offerings to include Chainlink, Solana, and Avalanche.
Bitcoin has started the week trading flat, remaining below the $80,000 mark after a strong August rally. Meanwhile, Chainlink's native token, LINK, has seen a significant surge, outperforming other major cryptocurrencies. This rise is largely attributed to a new partnership announced by Chainlink with Bottomline, a major SWIFT services provider.
Bottomline, which processes over $16 trillion in payments annually for more than 600 banks, will integrate Chainlink's Cross-Chain Interoperability Protocol (CCIP) and Chainlink Runtime Environment (CRE). This integration aims to connect Bottomline's existing banking clients to blockchain settlement systems, allowing them to continue using standard ISO 20022 messages without building new infrastructure.
Chainlink's token, LINK, reached $13.64, its highest price since January 18, marking a roughly 6.8% gain in 24 hours. This rally, combined with Chainlink's recent listing on Charles Schwab's expanded crypto trading platform alongside Solana and Avalanche, has contributed to LINK's 57% increase over the past 30 days.
In contrast, Bitcoin has faced resistance around $82,000 and is currently trading below its 50-week moving average. Analysts are divided on its next move, with possibilities ranging from a trend reversal to a significant price drop. The cryptocurrency market is also awaiting fresh inflation data and the Federal Reserve's September 16 rate decision, with a stronger-than-expected jobs report increasing the likelihood of a rate hike.