Top Gainer - Chainlink (LINK):
Chainlink's LINK token surged over 10% following new partnerships with traditional financial institutions, outperforming the broader crypto market. The uptick is attributed to Chainlink's collaboration with SWIFT to scale tokenized asset adoption. Chainlink co-founder Sergey Nazarov discussed the Cross-Chain Interoperability Protocol (CCIP) at a SWIFT event. The company also previously partnered with Depository Trust and Clearing Corporation (DTCC) and recently completed a cross-chain purchase of tokenized assets using ANZ's stablecoin. On-chain data revealed that 18.75 million LINK tokens were moved over the weekend, with 15 million being deposited to Binance. The Chainlink wallet has been regularly depositing LINK to Binance since August 2022.
What’s Interesting Today:
A team developing on the Avalanche blockchain has introduced Multiswap, a trading tool that allows users to swap up to 300 different tokens in a single transaction. Unlike traditional DEX liquidity pools that facilitate one-to-one token swaps, Multiswap's code allows multiple tokens to be traded simultaneously. The tool is designed for complex trading strategies that require quick execution at low fees. CavalRe founder Eric Forgy describes it as a "new kind of decentralized ETF," noting that it consolidates liquidity instead of fragmenting it across multiple pools. Despite its capabilities, Forgy warns that security risks inherent in complex blockchain applications still exist. Multiswap plans to explore expansion into tokenized foreign currencies, commodities, and equities in the coming months.