- Chainlink enables CBDC-stablecoin exchange in Hong Kong pilot.
- LINK breaks $15 as volatility tightens and momentum builds.
- Rising LINK derivatives signal a strong bullish stance.
Chainlink (LINK) has attracted renewed investor attention after its CCIP successfully facilitated an exchange between Hong Kong’s CBDC and an Australian dollar stablecoin.
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 recovered from a key support level and climbed above $15.00, driven by technical strength and the growing real-world adoption of Chainlink’s CCIP.
Specifically, Chainlink’s role enabling cross-border settlements has renewed optimism about the long-term value proposition of its native token, LINK.
LINK price rises as volatility tightens and momentum increases
LINK is trading around $15.08 after gaining 9.1% in the past 24 hours, outperforming both Bitcoin (BTC) and Ethereum (ETH) on a relative basis.
The current rally follows a strong rebound from $12.64, a support level where bulls defended aggressively after weeks of downward consolidation.
On the daily chart, LINK now shows a clear V-shaped recovery as it pushed through the $14.10 resistance cluster and approaches the next critical zone between $14.49 and $15.22.
Technical indicators point to tightening volatility, with 30-day volatility falling to 60.80% from a recent peak of 81.11%, suggesting an approaching breakout.
Derivatives activity supports the move: volume rose 28.25% to $621.23 million and open interest increased 3.02% to $587.42 million, indicating that traders are positioning for further movement.
Despite a net inflow of 36,286 LINK to exchanges—likely reflecting strategic positioning—momentum remains bullish, and successive short liquidations could fuel additional upside.
Overall market structure stays intact as long as LINK holds above $12.64, and sentiment is turning more positive among both retail and institutional participants.
With liquidity heatmaps showing concentrated short positions between $14.10 and $14.49, a decisive break above $15.22 could trigger a squeeze toward the $16.00 level.
Chainlink’s role in Hong Kong CBDC pilot fuels bullish momentum
The Hong Kong Monetary Authority (HKMA), together with major financial participants including Visa, ANZ, Fidelity International and ChinaAMC, selected Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to enable cross-border digital-asset settlement in its CBDC pilot.
In a notable test, an Australian investor used an AUD-backed, Ethereum-issued stablecoin (A$DC) to purchase a tokenized fund from a Hong Kong asset manager, highlighting Chainlink’s growing profile in global financial infrastructure discussions.
In the pilot, CCIP connected ANZ’s private DASchain to Ethereum’s public Sepolia testnet, allowing atomic swaps between A$DC and Hong Kong’s e-HKD CBDC without intermediaries.
The test demonstrated how CCIP can facilitate seamless interaction between permissioned and public blockchains in regulated environments.
ERC-20 wrapped e-HKD tokens were used to complete settlement, and Chainlink’s infrastructure supported payment-versus-payment (PvP) mechanics and compliance integrity across both chains.
The Phase 2 e-HKD+ pilot program is expected to continue exploring tokenization and programmable settlement use cases throughout 2025, with outcomes likely to influence CBDC development paths.
Although LINK tokens were not used directly in the transaction, markets have reacted to Chainlink’s expanding real-world utility and its increasing significance in institutional finance.