Chainlink co-founder Sergey Nazarov spoke at a White House technology leaders event, while Ethereum infrastructure firm Nethermind agreed to join Chainlink as a node operator. LINK spiked above $10.60 before settling into a consolidation range.
Chainlink is drawing attention from two directions at once. Co-founder Sergey Nazarov appeared at a White House technology leaders event on August 20, while Ethereum infrastructure firm Nethermind agreed to join the network as a node operator. Native token LINK has responded with a sharp move higher.
Nazarov links regulation to stablecoin adoption
At the White House event, Nazarov said recent U.S. regulatory moves are helping stablecoins reach a much wider audience. He pointed to the GENIUS Act and the growing use of U.S. government debt in stablecoin reserves as factors that could put dollar-backed digital assets into more hands.
Nazarov also expects tokenized stocks to follow a similar path. Chainlink already provides infrastructure for many of these applications, giving it a close view of how quickly adoption is developing.
Nethermind joins as a node operator
Separately, Nethermind announced it is joining Chainlink as a node operator, where it will help secure the network's CCIP and Data Feeds. CEO Daniel Celeda described the move as a long-term decision based on where the firm sees on-chain finance heading.
Many firms are reconsidering their cross-chain infrastructure after the April exploit involving a LayerZero-powered bridge used by Kelp DAO. No timeline for completing Nethermind's migration has been announced yet.
LINK holds its gains
Against this backdrop, LINK spiked to above $10.60 on the hourly chart before settling into a range near those levels.
The pace of the move has since slowed. The RSI sat near 64, showing buyers still in control without the market being overly stretched. On-balance volume also improved and has stayed relatively steady since. The token is consolidating after its recent jump.
Source: AMBCrypto
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