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

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.

Key Chainlink Levels To Watch – June 6

Ever 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.

Chainlink is working with @swiftcommunity and more than a dozen major financial institutions on experiments to enable connectivity to and interoperability across public and private blockchains: https://t.co/TphsIU6A3O

These experiments are a significant step forward from the… pic.twitter.com/6UEvp22LM9

— Chainlink (@chainlink) June 6, 2023

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.

Chainlink Key Levels

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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