Chainlink enables CBDC-stablecoin swap in HK pilot. LINK breaks $15 as volatility drops and momentum builds. Rising LINK derivatives signal strong bullish positioning.

Chainlink (LINK) has captured fresh investor interest after Chainlink’s CCIP successfully enabled a Hong Kong CBDC and an Australian dollar stablecoin swap.

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 rebounded from a key support level and surged past $15.00, buoyed by both technical strength and growing real-world adoption of Chainlink’s CCIP.

Notably, Chainlink’s role in enabling cross-border payments has reignited optimism about the long-term value proposition of its native token, LINK.

LINK is currently trading near $15.08 after posting a 9.1% gain over the past 24 hours, outperforming both Bitcoin (BTC) and Ethereum (ETH) in relative terms.

LINK’s current surge comes on the back of a strong rebound from the $12.64 support level, where bulls defended aggressively following weeks of downward consolidation.

A clear V-shaped recovery has now emerged on the daily chart, with LINK pushing through the $14.10 resistance cluster and approaching the next critical zone between $14.49 and $15.22.

In addition, technical indicators reveal a tightening volatility regime, with 30-day volatility dropping to 60.80% from a recent peak of 81.11%, suggesting an impending breakout.

Rising derivatives volume — up 28.25% to $621.23 million — and a 3.02% increase in Open Interest to $587.42 million show that traders are positioning for a continuation move.

Despite an increase of 36,286 LINK on exchanges, likely indicating strategic positioning, momentum remains bullish as cascading short liquidations may fuel further upside.

Overall, the broader market structure remains intact as long as LINK holds above $12.64, with sentiment continuing to turn positive among both retail and institutional investors.

With liquidation heatmaps showing dense short positions between $14.10 and $14.49, a decisive break above $15.22 could trigger a squeeze toward the $16.00 level.

The Hong Kong Monetary Authority (HKMA), in collaboration 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 settlement in its CBDC pilot project.

Notably, the successful test that saw an Australian investor use the A$DC stablecoin, collateralised in AUD and issued on Ethereum, purchase a tokenised fund from a Hong Kong-based asset manager has elevated Chainlink’s profile in the global financial infrastructure narrative.

In the pilot, Chainlink’s CCIP bridged ANZ’s private DASchain with Ethereum’s public Sepolia testnet, enabling atomic swaps between the A$DC and Hong Kong’s CBDC, e-HKD, without intermediaries.

The test demonstrated how CCIP can enable seamless interaction between permissioned and permissionless blockchains in regulated environments.

The test also utilised ERC-20 wrapped e-HKD tokens to complete the settlement, with Chainlink’s infrastructure ensuring Payment-versus-Payment (PvP) mechanisms and compliance integrity across both chains.

The e-HKD+ pilot program, now in Phase 2, is expected to continue exploring use cases for tokenisation and programmable settlement throughout 2025, with results likely to impact CBDC development trajectories.

Although LINK tokens were not directly used in the transaction, the market has responded to Chainlink’s expanding real-world utility and relevance in institutional finance.

The post LINK price analysis as Hong Kong taps Chainlink for CBDC pilot project appeared first on CoinJournal.

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