Chainlink price rose 5.05% to $11.68 after announcing a strategic partnership with financial technology firm Bottomline, which processes over $16 trillion in annual payments. The collaboration will provide cross-chain and cross-border payments for Bottomline’s 600+ bank clients, allowing them to use the ISO 20022 messaging protocol while accessing on-chain payment rails. Chainlink’s open interest fell from above $700 million in August to about $600 million in early September, indicating leveraged positions were reduced. LINK is trading above its 20, 50, 100, and 200-day exponential moving averages, with short-term resistance near $12.
Chainlink price rose 5.05% over the past 24 hours to $11.68, driven by a strategic partnership with financial technology firm Bottomline. The collaboration will provide cross-chain and cross-border payments for Bottomline’s portfolio of over 600 banking clients.
Bottomline handles more than $16 trillion in annual payments across its platforms. Chainlink will offer an interoperability layer connecting existing payment systems with public and private blockchain networks.
According to Chainlink, the partnership enables “cross-chain, cross-border payments” for the bank customers. Banks can continue using the same ISO 20022 messaging protocol while gaining access to on-chain payment rails.
Chainlink confirmed that its CCIP and Runtime Environment (CRE) will help coordinate payments and related workflows. As reported, Chainlink stated that “Top-three Swift service provider, Bottomline, has entered a strategic partnership with Chainlink to unlock cross-chain, cross-border payments for its 600+ bank customers.”
Open interest in Chainlink increased sharply during the August rally, reaching above $700 million, then fell back to about $600 million in early September. A reduction in open interest while LINK remains above $11 suggests that some leveraged positions have been closed or reduced.
TradingView’s daily chart shows that LINK is trading above the 20-day EMA at $10.878, the 50-day EMA at $9.876, the 100-day EMA at $9.375, and the 200-day EMA at $9.814. Short-term resistance can be seen around $12, where LINK recently witnessed selling interest.
LINK trading volume exceeded $1 billion during the August breakout but dropped thereafter. Further progress in the Bottomline partnership, along with more information on institutional adoption, may serve as a catalyst for continued price movement.
