The native token of the Oracle Network Chainlink withdrew a little on Friday and established a higher low and sent a 6.7% win this week. Price action has been supported by a number of news headlines on institutions and protocols that tap Chainlink’s services.
Plasma (XPL) said on Friday that it has joined the chainlink scale and adopted Chainlink’s Oracle Services for its stablecoin payments-focused blockchain. The network has integrated Chainlinks Cross-Chain Interoperability Protocol (CCIP), data flows and data-paeds services that support developers to build stablecoin use cases on plasma.
“By adopting the chainlink standard and participating in the Chainlink Scale program, Plasma demonstrates how new Layer-1 networks can be launched with company-class stableecoin infrastructure from day one,” said Johann Eid, Chief Business Officer at Chainlink Labs, the development organization behind Chainlink.
The news follows Swiss Bank UBS, which starts a pilot with chainlink earlier this week, and integrates the CCIP protocol with Swifts Messaging system for tokenized fund operations.
Meanwhile, Chainlink bought reserve, a facility that buys the symbol of the open market using income from protocol integrations and services, another 46,441 link on Thursday, which brought overall holdings over 417,000 tokens worth $ 9.5 million.
Technical indicators signalize that Bullish Momentum returns to link and establishes a clear higher low, but faced the $ 23 resistance, Coindesk Data’s research model hinted.
- Link changed hands within a range of $ 0.96 between $ 22.13 and $ 23.09, representing a 4.27% fluctuation in the 24-hour period.
- Established critical support for $ 22.13 with significant purchase interest with an increased volume of 1,409,489 units above the daily average of 1,178,000.
- The token cut a clearly higher low pattern, suggesting renewed upward momentum against $ 23.10 resistance zone.
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