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Chainlink's LINK Drops 5% Despite Major Partnership Deal, But Recovery Signals Emerge
Source: CryptoNewsNet Original Title: Chainlink’s LINK Drops 5% Despite Coinbase Bridge Deal, But Bottoming Signs Emerge Original Link: Chainlink’s LINK token fell nearly 5% over the past 24 hours to $13.74 on Thursday, reversing early gains despite a major announcement from a leading compliance platform.
Earlier in the day, the platform revealed it had selected Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to power a new bridge connecting its $7 billion in wrapped assets, including cbETH, cbBTC and cbDOGE. The move marked a major institutional endorsement of Chainlink’s cross-chain infrastructure and positioning within the tokenization space.
In other news, Nasdaq-listed digital asset treasury firm Caliber (CWD) said it has started staking its LINK holdings for yield, starting with a 75,000 token deployment.
Despite the headlines, broader market conditions dampened sentiment. Weak altcoin momentum and renewed concerns around the Federal Reserve’s rate outlook contributed to LINK’s drop from Wednesday’s high of $14.46 to a Thursday low of $13.43.