Russia Moves to Classify Bitcoin as Property; Chainlink Gains Momentum Amid DeFi and RWA Growth
Russia has introduced new legislation to classify Bitcoin as property, signaling a potential shift in regulatory approaches toward cryptocurrency.
Meanwhile, Chainlink continues to gain traction as the decentralized finance (DeFi) ecosystem expands and real-world asset (RWA) tokenization accelerates. Notably, Chainlink recently enabled a high-profile transaction between JPMorgan and Ondo Finance. Its cross-chain interoperability protocol (CCIP), now live on the Solana mainnet, has unlocked access to over $18 billion in assets.
The impact of CCIP is evident, with Solv Protocol—a Bitcoin staking platform—growing its assets to $2.5 billion, of which $1.16 billion is powered by Chainlink’s technology. Analysts suggest the RWA sector remains in its early stages, presenting significant upside potential. VanEck projects the tokenized securities market could surpass $30 trillion by 2030, up from $50 billion today.
Additionally, Chainlink’s collaboration with Swift, the global financial messaging network, is expected to further enhance blockchain integration with traditional finance and drive value for the LINK token.
Technical Analysis: LINK formed a bullish double-bottom pattern around $10.20 in November and April. The token is trading within an ascending channel and remains supported by the 50-day weighted moving average. The outlook suggests a potential move toward the $20 psychological resistance an upside of 27% from current levels—unless a breakdown below the channel occurs.
Stay tuned and follow for more updates to my Binance account @SKhan_Trader