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Chainlink’s native token $LINK surged 29% on Dec. 3 as supporters positioned it as the true “bank money,” drawing comparisons to $XRP.
Chainlink’s $LINK Token Soars 29% and Is Dubbed Real ‘Bank Money’ by the Community
This surge took $LINK from $16.54 a week ago to $26.90, a 53% gain in seven days.
The rally follows a number of developments in Chainlink’s ecosystem and renewed discussions in the crypto community regarding $LINK’s role in connecting blockchain networks to traditional financial systems.
$LINK’s rise coincided with a notable rally by $XRP, which climbed to $2.46 before recently pulling back.
$XRP’s rally comes as investors await regulatory clarity and progress on Ripple’s stablecoin and central bank digital currency (CBDC) initiatives.
But some Chainlink advocates argue that $LINK’s partnerships with major financial institutions make it a real contender for the title of “bank money.”
Researcher and Kamino Finance advisor Aylo suggested that $XRP’s recent rally could help shed light on Chainlink’s growing presence in traditional finance.
Chainlink supporter Zach Rynes, known as ChainLinkGod on X, claimed that $LINK is the real “bank money” due to Chainlink’s collaborations with global financial institutions. He emphasized the project’s integration with major banks, saying:
“All of this and more is not speculation or wishful thinking, but actual work that Chainlink does with financial institutions, as described by the banks themselves.”
In response, Rynes dismissed $XRP as a “banker-themed memecoin” that failed to gain meaningful adoption for cross-border payments.
He argued that stablecoins and CBDCs have made bridge currencies like $XRP obsolete, which is why Ripple is turning to stablecoins and custodial services.
*This is not investment advice.