TL;DR
- Chainlink leads development activity on GitHub, overtaking Ethereum, driven by its role in tokenized asset applications.
- Its protocol facilitated a transaction between a Hong Kong CBDC and an Australian stablecoin, with Visa and ANZ among the participants.
- LINK broke above its 50-day moving average and is aiming to surpass $16.70, with a potential 57% rally if it confirms a breakout.
Chainlink (LINK) has taken the lead in development activity, leaving Ethereum behind on GitHub, fueled by the growing adoption of real-world asset applications.
Over the past 30 days, the network recorded an update volume that placed it second overall, even ahead of the ecosystem where it was born. This technical momentum is reflected in its involvement in concrete institutional projects, such as Hong Kong’s digital dollar pilot.
🧑💻 Here are crypto's top Real World Assets (RWA's) by development. Directional indicators represent each project's ranking rise or fall since last month:
➡️ 1) @chainlink $LINK 🥇
➡️ 2) @avax $AVAX 🥈
➡️ 3) @stellarorg $XLM 🥉
➡️ 4) @iota $IOTA
➡️ 5) @injective $INJ
➡️ 6)… pic.twitter.com/p0lKeK6UcV— Santiment (@santimentfeed) June 10, 2025
A Vital Financial Tool for Institutions
The e-HKD+ program integrated Chainlink’s interoperability protocol to carry out transactions between a Hong Kong CBDC and an Australian stablecoin. The operation was executed within the HKMA’s regulatory framework and involved global banks and investment firms like Visa, ANZ, Fidelity International, and China AMC. This deployment made clear Chainlink’s value as infrastructure for high-level financial operations.
Following the announcement, LINK’s token price jumped 8%, rising from $13.90 to $15.40, and maintained its upward momentum in the hours that followed. The market read this move as a validation of the network’s suitability for institutional applications, cementing its role as a key tool for tokenized asset markets and interbank transactions.
Chainlink: Outlook and Technical Analysis
Chainlink co-founder Sergey Nazarov explained that the network already addresses three critical challenges for institutional smart contracts: validated external data, cross-chain interoperability, and regulatory compliance. He also highlighted a specific transaction between ANZ and Fidelity, which he believes signals a broader adoption of these standards.
From a technical standpoint, Chainlink (LINK) is approaching a resistance zone between $16.04 and $17.43. Analysts are tracking a descending wedge pattern that, if broken to the upside, could trigger a move of up to 57% from the breakout point. The token has already flipped its 50-day moving average into support at $15.07 and has additional backing at its 100-day moving average at $14.35. The RSI indicator also confirms the bullish momentum, remaining above 50.
