Chainlink will provide oracle, cross-chain and data services to the Plasma network to support stablecoin use cases.
By Krisztian Sandor, CD Analytics|Edited by Nikhilesh De
Oct 3, 2025, 6:57 p.m.
- Chainlink’s native token (LINK) saw a 6.7% increase this week despite Friday’s pullback, bolstered by institutional and protocol adoption.
- Plasma has integrated Chainlink’s services to support stablecoin payments on its blockchain.
- Swiss bank UBS is piloting Chainlink’s CCIP protocol with SWIFT for tokenized fund operations, signaling growing institutional interest.
The native token of oracle network Chainlink LINK$22.59 pulled back slightly on Friday, establishing a higher low, posting a 6.7% gain this week. The price action has been supported by a string of news headlines about institutions and protocols tapping Chainlink’s services.
Plasma (XPL) said on Friday it has joined Chainlink Scale, adopting Chainlink’s oracle services for its stablecoin payments-focused blockchain. The network has integrated Chainlink’s Cross-chain Interoperability Protocol (CCIP), Data Streams and Data Feeds services, supporting developers to build stablecoin use cases on Plasma.
STORY CONTINUES BELOW
“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 development organization behind Chainlink.
The news follows Swiss bank UBS starting a pilot with Chainlink earlier this week, integrating the CCIP protocol with SWIFT’s messaging system for tokenized fund operations.
Meanwhile, the Chainlink Reserve, a facility that purchases tokens on the open market using income from protocol integrations and services, bought another 46,441 LINK on Thursday, bringing total holdings over 417,000 tokens, worth $9.5 million.
Technical indicators signal bullish momentum is returning for LINK, establishing a clear higher low but facing resistance at the $23 level, CoinDesk Data’s research model suggested.
- LINK changed hands within a $0.96 range between $22.13 and $23.09, representing a 4.27% fluctuation during the 24-hour period.
- Established critical support at $22.13 with substantial buying interest at an elevated volume of 1,409,489 units, above the daily average of 1,178,000.
- The token carved out a clear higher low pattern, suggesting renewed upward momentum towards the $23.10 resistance zone.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
More For You
Sep 9, 2025
Combined spot and derivatives trading on centralized exchanges surged 7.58% to $9.72 trillion in August, marking the highest monthly volume of 2025
What to know:
- Combined spot and derivatives trading on centralized exchanges surged 7.58% to $9.72 trillion in August, marking the highest monthly volume of 2025
- Gate exchange emerged as major player with 98.9% volume surge to $746 billion, overtaking Bitget to become fourth-largest platform
- Open interest across centralized derivatives exchanges rose 4.92% to $187 billion
More For You
By CD Analytics, Krisztian Sandor|Edited by Nikhilesh De
2 hours ago
The native token of the largest DeFi lending protocol is showing strong momentum despite short-term profit taking above $290.
What to know:
- Top DeFi lender Aave (AAVE) rebounded strongly on Friday afternoon, breaking key resistance levels and gaining 6% this week.
- The broader DeFi market hit a record $219 billion in assets, with Aave’s deposits climbing to $74 billion.
- Technical indicators suggest upside potential, though resistance remains firm between $290-$294.
