tl;dr
The Chainlink team announced the launch of the Cross-Chain Interoperability Protocol v1.5 upgrade on the mainnet, enabling developers to deploy Cross-Chain Tokens (CCTs) across over twenty blockchains in minutes. The upgrade introduces the new Cross-Chain Token (CCT) standard, offering developers en...
Chainlink recently announced the launch of the Cross-Chain Interoperability Protocol v1.5 upgrade on the mainnet, enabling developers to deploy Cross-Chain Tokens (CCTs) across over twenty blockchains in minutes. The upgrade introduces the new Cross-Chain Token (CCT) standard, offering developers enhanced control, ownership, programmability, and zero-slippage transfers. It also includes a streamlined user interface for managing CCTs and Smart Accounts for transaction authorization.
The partnership between Chainlink and Ripple aims to accelerate the adoption of Ripple USD (RLUSD) stablecoin for cross-border payments. Following the announcement, Chainlink's native token, LINK, experienced a 6% price increase, with whales buying 1.35 million LINK over 24 hours.
The protocol's native token, LINK, gained around 6% on the day to reach an intraday high of $20.60 during early trading in Asia. With whales buying 1.35 million LINK over the past 24 hours, its price rose back to resistance at $20 following a dip to $18.24 on Monday.
Chainlink's CCIP v1.5 introduces the Cross-Chain Token (CCT) standard, offering developers "full control, ownership, enhanced programmability, and zero-slippage transfers." The new standard allows developers to deploy CCTs across more than twenty blockchains in minutes. The upgrade also includes a CCIP Token Manager, Smart Accounts for transaction authorization, and aims to increase access to bridged USDC and accelerate DeFi adoption across multiple blockchains.
Additionally, the partnership between Chainlink and Ripple is focused on accelerating the adoption of the cross-border payments firm's stablecoin, Ripple USD (RLUSD). This news, combined with the release of the Cross-Chain Interoperability Protocol v1.5 upgrade, led to a 6% price increase for Chainlink's native token, LINK.