$LINK, the native token of Chainlink, has recently seen a notable surge in price. The latest data reveals that $LINK has jumped by 13% amid Chainlink’s latest collaboration with the famous payment platform, Mastercard. In addition to this, the ongoing ceasefire within the Middle East region has also fueled this increase and wider crypto market sentiment.
$LINK Surpasses Bitcoin’s Price Increase with Massive 13% Rise
The 13% price rally of $LINK has even outperformed the 2.8% gain of Bitcoin ($BTC). A key contributor to this upsurge is the announcement of the collaboration between Chainlink and Mastercard. In this respect, 3 billion Mastercard cardholders will be permitted to make direct crypto purchases on-chain.
In addition to this, the calming tensions between Iran and Israel have already triggered a wide recovery phase in the crypto market. Particularly, ninety-eight of the top hundred crypto coins have seen noteworthy gains. At the same time, Bitcoin ($BTC) has also regained the $106,000 mark. Even then, the bullish momentum of $LINK has outcompeted such prominent crypto assets.
Chainlink’s Partnership with Mastercard Denotes Milestone for Crypto Adoption
The Chainlink-Mastercard partnership utilizes the decentralized oracle mechanism of Chainlink as a significant infrastructure element. This allows for the synchronization and verification of transaction details on conventional financial networks and blockchains. This collaboration appears as a milestone to broaden crypto adoption. Hence, it fills the gap existing between Web3 and Web2 landscapes by enabling conventional cardholders to enter the blockchain sector.
In line with the technical indicators, $LINK presents a bullish breakout above its key resistance level of $12.50, with robust support within the $12.85-$13.00 range. In the meantime, the traders are keenly observing the $13.30-$13.35 zone in the case of short-term resistance. Overall, with the broader geopolitical ease and Chainlink-Mastercard collaboration, $LINK shows a great potential for further price jumps while standing among the top crypto winners.
