- Chainlink enables CBDC–stablecoin exchange in Hong Kong pilot
- LINK breaks $15 as volatility tightens and momentum builds
- Rising LINK derivatives point to strong bullish positioning
Chainlink (LINK) has drawn renewed investor attention after Chainlink’s CCIP successfully enabled an exchange between Hong Kong’s CBDC and an Australian dollar stablecoin as part of an ongoing pilot program.
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
Following the announcement, LINK bounced from a key support level and surged past $15.00, driven by technical strength and growing real-world adoption of Chainlink’s CCIP.
In particular, Chainlink’s role in enabling cross-border payments has reignited optimism about the token’s long-term utility and relevance in institutional finance.
LINK price rises as volatility tightens and momentum grows
LINK is trading near $15.08 after a 9.1% gain in the past 24 hours, outperforming Bitcoin (BTC) and Ethereum (ETH) on a relative basis.
This advance followed a sharp rebound from a support level at $12.64, where bulls defended the market after weeks of consolidation. The daily chart shows a clear V-shaped recovery as LINK pushed through resistance around $14.10 and approached a critical zone between $14.49 and $15.22.
Technical indicators show a regime of compressed volatility, with 30-day volatility falling to 60.80% from a recent peak of 81.11%, suggesting a breakout could be imminent.
Derivative activity supports the bullish view — derivatives volume rose 28.25% to $621.23 million, while open interest climbed 3.02% to $587.42 million, indicating traders are positioning for continued movement.
Although 36,286 LINK were deposited onto exchanges, likely reflecting strategic positioning, momentum remains bullish as short-squeeze dynamics could push prices higher.
Overall market structure should remain constructive as long as LINK holds above $12.64, with sentiment turning more positive across retail and institutional participants.
Heatmaps of liquidation risk show heavy sell-side interest between $14.10 and $14.49. A decisive break above $15.22 could trigger a squeeze toward the $16.00 area.
Chainlink’s role in Hong Kong CBDC pilot fuels bullish momentum
The Hong Kong Monetary Authority (HKMA), together with major financial players including Visa, ANZ, Fidelity International and ChinaAMC, selected Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to enable cross-border digital asset settlements in a CBDC pilot.
A successful test saw Australian investors use A$DC, an AUD-backed stablecoin issued on Ethereum, to purchase tokenized funds from an asset manager in Hong Kong. The demonstration elevated Chainlink’s profile within the global financial infrastructure narrative.
In the pilot, CCIP linked ANZ’s private DASchain with Ethereum’s Sepolia public testnet, enabling atomic exchanges between A$DC and Hong Kong’s e-HKD CBDC without intermediaries.
The trial showed how CCIP can facilitate seamless interaction between permissioned and permissionless blockchains in a regulated environment.
Wrapped ERC-20 representations of e-HKD were used to settle transactions, while Chainlink’s infrastructure helped ensure payment-versus-payment (PvP) mechanics and compliance integrity across both chains.
The e-HKD+ pilot, now in Phase 2, will explore programmable token and settlement use cases through 2025, and its outcomes are likely to influence CBDC development pathways.
While LINK tokens were not used directly in settlement, markets have reacted positively to Chainlink’s expanding real-world utility and growing institutional relevance, driving renewed investor interest in the project.