Chainlink's LINK Token Soars 29%, With Community Calling It the True 'Bank Coin'

Chainlink’s native token, LINK, has surged by 29%, as community members rally behind it, positioning the token as the true “bank coin” and contrasting it with XRP. On December 3, LINK reached $25.32, marking a significant jump from $16.54 on November 26. This represents a remarkable 53% increase over the past week, drawing attention to the growing momentum behind Chainlink in the broader crypto landscape.

The Surge: Factors Behind LINK’s 29% Jump

Several factors may be fueling the rally of Chainlink’s token. While XRP has recently experienced a notable surge, rising to $2.46 on December 1, some Chainlink supporters are capitalizing on this attention, highlighting Chainlink’s own strong ties to traditional finance. The rise in LINK’s price also comes as the blockchain oracle network gains momentum through new partnerships and developments, underscoring its growing role in connecting traditional finance with decentralized technologies.

Chainlink Advocates Position LINK as the True 'Bank Coin'

The surge in LINK’s value is being attributed in part to Chainlink's increasing integration into the traditional financial sector. According to Aylo, a researcher and adviser to decentralized finance protocol Kamino Finance, XRP’s recent success has brought more attention to LINK's strategic partnerships with banks and capital markets. "LINK is XRP," Aylo stated, emphasizing that Chainlink is already working alongside the largest global financial institutions to bridge the gap between traditional finance and blockchain.

Zach Rynes Defends Chainlink and Critiques XRP

Zach Rynes, a prominent Chainlink advocate known as ChainLinkGod on X, reinforced this sentiment by claiming that LINK is the true “bank coin.” Rynes pointed out that Chainlink’s partnerships span some of the world’s largest financial institutions, establishing its presence as a key player in connecting banks to blockchain technology.

In a pointed critique of XRP, Rynes described the token as a “banker-themed memecoin” that failed to gain traction in the cross-border payments sector. He argued that XRP’s initial promise of serving as a bridge currency is now obsolete, given the growing adoption of stablecoins and central bank digital currencies (CBDCs). As a result, Ripple, the company behind XRP, has shifted focus toward developing its stablecoin, custody, and CBDC platform, Rynes claimed.

Rynes also defended Chainlink against the criticism that it is “just an oracle,” highlighting the extensive and ongoing collaborations between Chainlink and financial institutions. He emphasized that these partnerships are not speculative but are backed by real work, as confirmed by the banks themselves.

The Growing Role of Chainlink in Finance

As the debate over the future of digital currencies continues, Chainlink’s pivotal role in connecting blockchain technology with traditional financial markets is becoming increasingly clear. With its growing list of high-profile partnerships and its focus on providing decentralized oracle services, Chainlink is positioning itself as a leader in the evolving intersection of crypto and traditional finance. Meanwhile, XRP’s struggle to establish itself as a practical solution in the cross-border payments space and its pivot toward stablecoins and CBDCs underscores the changing landscape of financial technology.

With LINK's recent rally, it's evident that Chainlink's strategic positioning and strong ties to traditional finance are gaining more recognition, further boosting its credibility as the true "bank coin."