Chainlink Partners with ICE to Advance Onchain Finance

Chainlink-ICE Alliance Delivers Institutional Data for Onchain Finance

Chainlink, recognized as a leader in onchain financial infrastructure, has announced a strategic collaboration with Intercontinental Exchange Inc. (NYSE: ICE). The partnership brings ICE’s high-quality foreign exchange and precious metals rates to LINK Data Streams. 

These rates, sourced from ICE’s Consolidated Feed, will contribute to the derived datasets powering over 2,000 applications, banks, asset managers, and financial infrastructure within the LINK network.

Consolidated Feed is a consolidated feed of more than 300 global exchanges and marketplaces provided by ICE. It provides structured data, multi-asset class data that complies with standards of the major institutions. 

Chainlink improves the dependability of its market feeds by adopting this datas, and it also facilitates the development of novel tokenized assets. 

The connection with ICE increases the level of trust in the information provided by LINK to define decisions in decentralized finance (DeFi).

Chainlink Data Streams Drive Institutional-Grade Applications

This integration indicates an expanding momentum of blockchain-based markets being assimilated by the mainstream. Chainlink Data Streams provides a source of low latency, high-frequency data, which makes onchain settlement faster and possible with automation. The infrastructure is meant to achieve the performance needs of the traditional financial markets as well as the new models of the digital assets.

Industry experts view the move as a step toward building a unified global onchain financial system. Fernando Vazquez, President of Capital Markets at LINK Labs, described it as a “watershed moment” for global markets. With trillions of dollars in assets expected to be tokenized, the collaboration positions both companies to lead in this transformation.

Expanding Opportunities in Tokenized Asset Markets

The demand in real-world tokenized assets is expected to grow up to a whopping $30.1 trillion in the next few years according to market analysts. Chainlink can enable organizations to enter the growth industry by incorporating the datas of ICEs. The technology gives access to the data of institutional quality on-demand, which allows developing superior DeFi products and improved experiences with trade.

ICE is a Fortune 500 company that runs the largest financial and commodity markets, which include the New York Stock Exchange. It provides services in futures, equities, options, and fixed income, besides mortgage technology. ICE will be able to enter the blockchain environments at the level where DLT and Chainlink complement each other, allowing the provider to facilitate the interface of traditional finance with digital markets in a secure and efficient manner.

LINK Price Analysis

Chainlink price is trading at $21.76 after gaining 5% in the latest 24 hours. The Relative Strength Index (RSI) is at 62.60, nearing the overbought region. The Moving Average Convergence Divergence (MACD) is showing a bullish trend, with the MACD line above the signal line.

Source: Tradingview

If bullish momentum returns, immediate upside targets are $22.50 and $23.20, with a breakout potentially driving a test of $24.00. On the downside, support rests at $20.50, with stronger protection near the $20.00 psychological level. A break below could open a path toward $19.20.