Chainlink co-founder Sergey Nazarov spoke at a White House technology event on August 20, stating that recent U.S. regulatory moves such as the GENIUS Act are helping stablecoins reach a wider audience. He also expects tokenized stocks to follow a similar path. Separately, Ethereum infrastructure firm Nethermind has joined Chainlink as a node operator to help secure its CCIP and Data Feeds, with CEO Daniel Celeda calling it a long-term decision. Following these developments, LINK’s price climbed above $10.60 before consolidating, with the RSI at 64 and OBV improving, indicating continued buyer control.
Chainlink co-founder Sergey Nazarov appeared at a technology leaders event at the White House on August 20, where he stated that recent U.S. regulatory developments are benefiting stablecoin adoption. He referred to the GENIUS Act and the growing use of U.S. government debt in stablecoin reserves as factors that could put dollar-backed digital assets into more hands.
“There’s a very real and tangible outcome that’s benefiting the adoption of U.S.-issued assets and the U.S. dollar,” Nazarov said. He also expects tokenized stocks to follow a similar path.
Ethereum infrastructure firm Nethermind announced it is joining Chainlink as a node operator to help secure its CCIP and Data Feeds. CEO Daniel Celeda described the move as a long-term decision based on where Nethermind sees on-chain finance heading.
The announcement follows an April exploit involving a LayerZero-powered bridge used by Kelp DAO, which has led many firms to reconsider their cross-chain infrastructure. No timeline for completing the migration has been announced.
Following these developments, the native token LINK climbed above $10.60 before settling into a range near those levels. The RSI was around 64, indicating buyers still have control without the market being excessively stretched. OBV also improved and has since stayed relatively steady.
