A popular crypto strategist has issued a warning that the decentralized oracle network Chainlink (LINK) may experience a significant downward movement. Rekt Capital, a pseudonymous analyst, believes that Chainlink looks bearish after failing to break through its macro downtrend resistance. The failed breakout suggests that LINK is still range-bound, and in a worst-case scenario, Chainlink could correct all the way down to $6.13. Meanwhile, Bitcoin has lost its bullish market structure on the weekly chart, but is still managing to stay above its horizontal support at $29,245.

Chainlink (LINK) saw an increase in whale activity as its price rose over the last two days, with whale and shark addresses holding 10,000 to 10 million LINK reaching a seven-month high. However, despite the increase in accumulation, LINK's daily chart turned red and its transaction count and network growth plummeted. LINK was also down by over 1.23% in the last 24 hours, trading at $7.85 with a market capitalization of over $4.2 billion. While its funding rate was green, most indicators on Chainlink's daily chart supported the sellers, indicating increased chances of a downtrend.

Altcoin Chainlink (LINK) has been performing well in the crypto market, with a weekly gain of around 6% while Bitcoin remains stagnant. The rise in Chainlink's price is attributed to heavy whale accumulation and a recent breach of resistance at $7.7, with a new resistance level at $9. On-chain data from Santiment shows that Chainlink had a massive transaction volume of $344 million on July 26, compared to $211 million the previous day.

Matrixdock, a digital asset platform for real-world asset (RWA) tokenization solutions, has partnered with Chainlink to increase the transparency of its short-term treasury tokens using Chainlink’s Proof-of-Reserve (PoR). The integration enables stablecoin holders of Matrixdock’s STBT product to obtain U.S. Treasury bonds and reverse repurchase agreements backed by U.S. Treasuries. With on-chain data feeds and automated verification capabilities, Matrixdock enables faster time-to-market for tokenized projects and enhanced asset security.

Chainlink’s Cross-Chain Interoperability Protocol (CCIP) is a new generalized cross-chain communication protocol that provides smart contract developers with the ability to transfer data and tokens across blockchain networks in a trust-minimized manner.

Chainlink's price surged by almost 19% on Thursday due to the launch of its new Cross-Chain Interoperability Protocol (CCIP) on several blockchains, as well as an increase in whale transactions and trading volume.

Crypto analytics firm IntoTheBlock has revised its outlook on Chainlink (LINK) following the blockchain oracle's strong recovery in just one month. With LINK's more than 50% surge since June, the least number of Chainlink holders are seeing losses this year. According to IntoTheBlock, LINK has more room to run with the next likely price resistance level at $10, a more than 22% increase from its current value. However, the firm warns that LINK may dip if some investors start taking profits. Additionally, IntoTheBlock highlights that Ethereum (ETH) has seen the largest recorded amount of ETH moved onto centralized exchanges (CEXs) in the last two months, which could indicate increased selling of the second largest digital asset by market cap.

Chainlink (LINK) experienced a remarkable 17% surge in its price within 24 hours, breaking through the $8 resistance level and indicating a potential shift in its market dynamics. The surge in price was accompanied by an impressive 780% increase in 24-hour trading volume, highlighting the surge in market activity and interest in Chainlink.

Chainlink's cross-chain interoperability protocol has been launched, allowing for the transfer of tokens between different blockchains. CEO Sergey Nazarov expects that banks and financial institutions will create their own private blockchains with stablecoins and DeFi protocols, which could benefit from using the CCIP.

Chainlink's LINK tokens experienced a surge in value on Thursday, with trading volume doubling to $580 million and prices rising by as much as 6%. This was attributed to the release of the company's Cross-Chain Interoperability Protocol (CCIP), which is designed to facilitate cross-chain applications and services.