LINK Gains Momentum as Plasma Stablecoin Network Integrates Chainlink Services

Chainlink’s LINK token established a higher low on Friday, posting a 6.7% gain for the week, supported by recent institutional and protocol adoption of its services.

Plasma (XPL) announced on Friday that it has joined Chainlink Scale, adopting Chainlink’s oracle services to power its stablecoin-focused blockchain. The network integrated Chainlink’s Cross-chain Interoperability Protocol (CCIP), Data Streams, and Data Feeds, enabling developers to build stablecoin use cases on Plasma.

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

The announcement follows earlier news that Swiss bank UBS began a pilot integrating Chainlink’s CCIP with SWIFT messaging for tokenized fund operations, highlighting growing institutional interest.

Meanwhile, the Chainlink Reserve, a facility that acquires LINK using income from protocol integrations, purchased another 46,441 LINK on Thursday, bringing total holdings to over 417,000 tokens, valued at approximately $9.5 million.

Technical Overview

• Price Range: LINK traded within $22.13–$23.09, a 4.27% intraday range.
• Support Level: $22.13, with strong buying interest and elevated volume of 1,409,489 units (above the daily average of 1,178,000).
• Resistance: Facing short-term resistance near $23–$23.10.
• Momentum: The token carved out a higher low, signaling renewed bullish momentum and potential upside.