The native token of oracle network Chainlink (LINK) pulled back slightly on Friday, establishing a higher low, posting a 6.7% gain this week. The price action has been supported by a string of news headlines about institutions and protocols tapping Chainlink's services.

Plasma (XPL) said on Friday it has joined Chainlink Scale, adopting Chainlink's oracle services for its stablecoin payments-focused blockchain. The network has integrated Chainlink's Cross-chain Interoperability Protocol (CCIP), Data Streams and Data Feeds services, supporting developers to build stablecoin use cases on Plasma.

"By adopting the Chainlink standard and joining the Chainlink Scale program, Plasma is demonstrating how new layer-1 networks can launch with enterprise-grade stablecoin infrastructure from day one," said Johann Eid, chief business officer at Chainlink Labs, the development organization behind Chainlink.

The news follows Swiss bank UBS starting a pilot with Chainlink earlier this week, integrating the CCIP protocol with SWIFT's messaging system for tokenized fund operations.

Meanwhile, the Chainlink Reserve, a facility that purchases tokens on the open market using income from protocol integrations and services, bought another 46,441 LINK on Thursday, bringing total holdings over 417,000 tokens, worth $9.5 million.

Technical indicators signal bullish momentum is returning for LINK, establishing a clear higher low but facing resistance at the $23 level, CoinDesk Data's research model suggested.

• LINK changed hands within a $0.96 range between $22.13 and $23.09, representing a 4.27% fluctuation during the 24-hour period.
• Established critical support at $22.13 with substantial buying interest at an elevated volume of 1,409,489 units, above the daily average of 1,178,000.
• The token carved out a clear higher low pattern, suggesting renewed upward momentum towards the $23.10 resistance zone.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。