Chainlink’s LINK Rises 2.5% Amid Hong Kong Tokenization Project

Chainlink's native token LINK rose by 2.5% to surpass $24. This follows Chainlink's collaboration with DigiFT and UBS to automate tokenized fund operations in Hong Kong.

The partnership received approval from Hong Kong’s Cyberport Blockchain and Digital Asset Pilot Subsidy Scheme.
The project aims to automate fund distribution, settlement, and management using smart contracts to reduce costs and errors.
Investors can place orders for UBS’s tokenized products through DigiFT’s smart contracts, with transactions processed by Chainlink’s framework.

Additionally, Chainlink launched its Cross-Chain Interoperability Protocol on the Aptos blockchain, enhancing connectivity for decentralized finance applications.

Technical Analysis

LINK has shown a 20% recovery since mid-August.
Support is established at $23.60, indicating sustained buying interest.
LINK outperformed the broader crypto market, which gained 1.5% during the same period.