TLDR
- Chainlink surpassed Ethereum in GitHub development activity over the past 30 days with 449 development activities
- CCIP protocol successfully enabled cross-border exchange between Hong Kong CBDC and Australian dollar stablecoin under e-HKD+ Pilot Program
- LINK price jumped 8% following the pilot announcement and has gained over 20% since June 6th
- Chainlink leads real-world asset tokenization infrastructure among top 10 cryptocurrencies
- Technical analysis shows LINK broke above 50-day moving average with potential resistance at $16-17 range
Chainlink has emerged as a development leader in the cryptocurrency space. The oracle network recently surpassed Ethereum in GitHub activity metrics.
Data from analytics firm Santiment shows Chainlink recorded 449 development activities in the past 30 days. This placed it at the top of real-world asset tokenization infrastructure providers among the top 10 cryptocurrencies.
The network ranked second overall in GitHub events during this period. Ethereum placed eighth despite its larger market presence.
🧑💻 While most of crypto stays flat Tuesday, Chainlink (+7.7%) and Ethereum (+6.3%) have continued to break out. These two projects are known for their top ranked developing teams. Over the past 30 days, $LINK has had the 2nd most notable github events and $ETH is in 8th. pic.twitter.com/gZ84YAvEwY
— Santiment (@santimentfeed) June 10, 2025
Chainlink’s Cross-Chain Interoperability Protocol facilitated a major institutional test case. On June 9, CCIP enabled a cross-border exchange between Hong Kong’s central bank digital currency and an Australian dollar stablecoin.
The pilot program involved major financial institutions including Visa, ANZ, China AMC, and Fidelity International. This test occurred under Hong Kong’s e-HKD+ Pilot Program regulatory framework.
We’re excited to share that Chainlink is facilitating the secure exchange of a Hong Kong CBDC and an Australian dollar stablecoin as part of an ongoing use case in Phase 2 of the e-HKD+ Pilot Program.
Congratulations to participants @Visa, ANZ, China AMC, and Fidelity… pic.twitter.com/ts2C6Vt4Ul
— Chainlink (@chainlink) June 9, 2025
Market Response Drives Price Action
LINK price responded positively to the pilot announcement. The token rose from $13.90 to $14.60, marking an 8% increase in the immediate aftermath.
Trading data shows LINK has gained over 20% since June 6th. The token currently trades above the $15 mark after breaking through key resistance levels.
The price movement pushed LINK above both its 20-day and 50-day exponential moving averages. Technical indicators show the token has flipped the 50-day simple moving average into support at $15.07.
Chainlink co-founder Sergey Nazarov highlighted the network’s institutional adoption progress. He referenced a Visa report that showcased Chainlink’s ability to solve three core challenges for institutional smart contracts.
These challenges include secure data feeds, cross-chain connectivity, and compliance standards. The complex transaction involving ANZ and Fidelity International demonstrated these capabilities within regulatory frameworks.
Technical Analysis Shows Mixed Signals
Current price action faces resistance from an overhead supply zone. This zone spans from $16.04 to $17.43 according to technical analysis.
LINK also confronts resistance from the upper trendline of a falling wedge pattern. A break above this trendline could trigger a 57% long-term run based on the pattern’s target objective.
The Relative Strength Index indicator shows rising momentum above the 50 level. This suggests bullish sentiment currently dominates the market structure.
Additional support levels exist at the 100-day simple moving average around $14.35. A breakdown below this level could see LINK test the demand zone between $10.78 and $11.46.
Development activity metrics continue to support the fundamental thesis. Chainlink’s 7.7% increase in development activity over 30 days outpaced Ethereum’s 6.3% growth.
The network’s institutional partnerships are expanding beyond traditional crypto use cases. Financial institutions are increasingly testing Chainlink’s infrastructure for real-world applications.
Recent GitHub data confirms sustained developer engagement with the protocol. This activity level positions Chainlink as a key infrastructure provider for emerging blockchain applications.
