Chainlink (LINK) Price Jumps 12% as Coinbase Picks LINK to Power Tokenized Stocks

TLDR

• LINK is trading at $12.06, up 12.03% in 24 hours, with a market cap of $9.03 billion
• Coinbase has chosen Chainlink to provide price feeds for tokenized stocks like Apple and NVIDIA on its Base network
• Bitwise’s Chainlink ETF bought 727,170 LINK tokens worth $5.515 million in one week at an average of $7.585 per token
• Analysts are watching $12.50 as a key resistance level, with $20 and $28 as potential targets if broken
• Tokenized stock market cap grew from $329M to $1.7B in one year, with monthly transfer volume up more than 170x

Chainlink (LINK) is trading at $12.06 after a 12.03% gain in the past 24 hours. Trading volume sits at $1.04 billion and market capitalization is at $9.03 billion.

Coinbase has selected Chainlink to supply pricing infrastructure for tokenized stocks on its Base Layer-2 network. This means blockchain versions of Apple and NVIDIA shares will use Chainlink’s price feeds to function in decentralized finance protocols.

For tokenized stocks to work in DeFi lending markets, protocols need reliable price data to value collateral and process liquidations. Without that, these assets largely sit idle in wallets. Chainlink fills that gap.

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