Chainlink Usage Hits 8-Month High as DeFi Projects Shift to CCIP
A planned DTCC integration points to real-world collateral settlement that could draw more institutional users.
Overview
- Network activity reached an eight-month peak last week, with 282,170 LINK addresses active one day and 264,090 the next, following security-driven moves by major projects to migrate from LayerZero to Chainlink’s CCIP cross-chain system.
- Solv Protocol said it will move more than $700 million in tokenized Bitcoin to CCIP, and Kelp DAO plans to shift its rsETH setup after an April bridge exploit drained about 116,500 rsETH through LayerZero-linked infrastructure.
- Large holders added 32.93 million LINK over 30 days while about 13.5 million tokens were withdrawn from centralized exchanges, a pattern analysts say points to lighter sell pressure.
- LINK trades near $10.30 after a 5.9% weekly rise from this year’s $7.60 low, and analysts see potential upside if chart breakouts confirm, with targets cited around $12.42 and $21.
- DTCC, which safeguards tens of trillions in assets, plans to integrate Chainlink into its Collateral AppChain for near real-time movement and settlement of tokenized collateral, with a launch targeted for Q4 2026.