Swift and Chainlink Are Set to Work With Major Financial Institutions to Improve Blockchain Networks

Azeez Mustapha

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In working with some financial institutions, Chainlink and Swift have made a significant step. This collaboration’s goal was to investigate how to link to various blockchain networks. The ability of major financial institutions to use Swift’s infrastructure for transferring tokenized assets between blockchains is now being tested.

Sergey Nazarov, the co-founder of Chainlink, believes that cooperation with financial organizations like commercial banks would significantly contribute to the development of the cryptocurrency industry. He also mentioned that if the idea is successful, the crypto market cap may reach $10 trillion. Due to this potential expansion, LINK is also probably going to have a more explosive surge upward as the overall market valuation for cryptocurrencies rises.

Swift and Chainlink Are Set to Work With Major Financial Institutions to Improve Blockchain NetworksEver since the $8.400 resistance was breached as a false breakout occurred, the market has been bearish. Initially, the market experienced a massive crash, which was characterized by three bearish marubozu candlesticks.



The selling pressure seems to be decreasing as the price struggles to break the $6.220 support. According to the Stochastic Oscillator, a bullish move is likely to occur soon as it indicates that LINKUSD is oversold.

Resistance Levels: $6.810, $7.510, $8.400
Support Levels: $6.220, $5.900, $5.390

Total Market Capitalization: $1.14T
Chainlink Market Capitalization: $3.26B
Chainlink Volume: $0.18B
Market Rank: #21

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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