So Chainlink just partnered with 21X, and honestly, this might change the game for crypto funding rates and liquidity in Europe. They're building the first EU-regulated market for tokenized securities, which is a pretty big deal. Let’s break it down.
What’s Happening with Chainlink?
Chainlink price jumped 28% in 24 hours, hitting $24.91 as of 3:20 a.m. EST. The trading volume has also shot up to $12.9 billion, up 834%. This is right after the announcement that Chainlink is teaming up with 21X to launch an EU-regulated tokenized securities market.
Crypto Funding Rates and Regulatory Compliance
This partnership is significant because it’s creating the first EU-regulated financial market infrastructure (FMI) for tokenized securities. They’re doing this under the watchful eye of BaFin, Germany’s financial watchdog, and are complying with the EU’s Distributed Ledger Technology (DLT) Regime. Chainlink is key here, providing secure and reliable market data feeds, which are super important for a regulated environment.
They’ll also be offering on-chain secondary market price feeds for bid and ask prices. This means more accurate and reliable data, which is crucial for trading and settlement processes. It looks like Chainlink’s Cross-Chain Interoperability Protocol (CCIP) will help 21X members access stablecoins and assets from various blockchain protocols, possibly increasing liquidity and stabilizing crypto funding rates across chains.
Market Interoperability and Crypto Liquidity
By facilitating cross-chain interoperability, Chainlink is working to unify liquidity across different blockchain protocols. This can lead to more stable and efficient funding rates, and it might make a range of tokenized assets easier to access.
Technical Analysis and Future Predictions
On the trading front, the LINK/USD pair has found solid support between $6.50 and $8.00, which held during a long consolidation phase. We saw a resistance breakout at around $9.00, marking a bullish trend. A golden cross in the moving averages suggests strong long-term momentum, though the price's parabolic rise could indicate a steep correction coming up.
The Relative Strength Index (RSI) sits at 79.94, indicating overbought conditions. Meanwhile, the MACD remains bullish but shows signs of slowing momentum.
Bonuses and Flockers
As Chainlink rises, investors are also rushing to buy Flockerz (FLOCK), a Vote-to-Earn (V2E) meme coin that has raised over $4.25 million in its presale. Analysts think it could be the next 100x meme coin.
Flockerz claims to be the people's meme coin, aiming to create a loyal community. They’re rewarding active governance participants, which is a pretty cool angle. Plus, you can stake to earn a whopping 570% annually. Currently, FLOCK tokens can be bought for $0.0062245, and you might want to jump in before the price hikes in just over two days.
Summary
Chainlink's partnership with 21X is a big deal for the crypto market. It could redefine crypto funding rates and liquidity while setting a solid foundation for tokenized securities in Europe. Keep an eye out for what happens next.
