The network’s importance was reinforced after the launch of 21X, Europe’s first regulated tokenized securities platform. Approved under European rules, 21X connects financial institutions to blockchain infrastructure using Chainlink’s technology.
CEO Max Heinzle described Chainlink as a vital backbone for tokenized markets, stressing that global institutions are lining up behind tokenization projects. By building on a regulated platform, Chainlink gains credibility in bridging traditional finance with decentralized networks.
Europe’s first regulated tokenized securities platform 21X:
“The work that Chainlink is doing … with the involvement of the largest financial institutions in the world … could not be more at the forefront.”
This development has been seen as a step toward establishing Chainlink as a core platform for tokenized assets. Its data feeds and interoperability features make it a practical link between standard securities and blockchain applications, adding momentum to its institutional appeal.
Market watchers say LINK is testing major support at $22.10, with deeper support zones at $20.55 and $19. In a worst-case scenario, the coin could even revisit $17. On the upside, clearing the volume-weighted average price of $22.10 may open a path back to $24, and possibly $26, which marked the highs reached in August.
At the time of writing, LINK was trading at $23.17, up 0.3% and 1.9% in the daily and weekly timeframes, data from Coingecko shows.
There are warnings that the levels of leverage are so high that they will encourage volatility. If support is maintained, the bulls could be in charge to drive LINK to $26. But if it fails to hold present levels, liquidations and deeper losses could follow.
The coming sessions will be crucial. Chainlink, viewed as both a token and a critical piece of market infrastructure, now faces a battle around $22. How the price reacts here could determine whether optimism around institutional adoption translates into a sustained recovery, or if traders brace for another correction.
Featured image from 21x.eu, chart from TradingView
