Chainlink (LINK) Sees Momentum Boost as Stablecoin Platform Plasma Adopts Its Services

Chainlink Sees Bullish Momentum as Plasma Network Adopts Its Services

Chainlink’s LINK token established a higher low on Friday, closing the week with a 6.7% gain, boosted by institutional and protocol adoption of its oracle and data services.

Plasma (XPL) announced it has joined Chainlink Scale, integrating Chainlink’s Cross-chain Interoperability Protocol (CCIP), Data Streams, and Data Feeds to support stablecoin-focused applications on its blockchain. This integration provides developers with enterprise-grade tools for building stablecoin use cases from day one.

“By adopting the Chainlink standard and joining the Chainlink Scale program, Plasma demonstrates how new layer-1 networks can launch with robust stablecoin infrastructure from day one,” said Johann Eid, Chief Business Officer at Chainlink Labs.

The development follows a pilot by Swiss bank UBS, which earlier this week began integrating Chainlink’s CCIP with SWIFT messaging to facilitate tokenized fund operations, signaling growing institutional adoption.

Chainlink Reserve Activity
The Chainlink Reserve, which purchases LINK on the open market using income from protocol integrations, added 46,441 LINK on Thursday, bringing total holdings above 417,000 tokens (~$9.5 million).

Technical Snapshot

Price Range: $22.13–$23.09, reflecting a 4.27% intraday fluctuation.
Support: $22.13 held firm, with elevated buying volume of 1,409,489 units (above the daily average of 1,178,000).
Resistance: Short-term resistance lies near $23–$23.10.
Trend: LINK’s higher low formation indicates returning bullish momentum and potential upside toward the $23.10 zone.