The reason is simple, banks hold $200+ trillion in assets - even a simple trickle-down of that money can mean exponential gains… and we’re here for it. Are you?

Let’s jump down that rabbit hole together and find out how Chainlink plans to make us all rich.

TLDR 📃

• Chainlink's CCIP launches, offering seamless cross-chain operations and attracting interest from major financial institutions.
• CCIP has the potential to disrupt traditional banking systems, potentially replacing SWIFT.
• The news of CCIP's launch has already caused a significant increase in the price LINK.
• The revenue potential of CCIP, coupled with Chainlink's updated economic model, makes LINK a promising investment.

Disclaimer: Not financial or investment advice. Any capital-related decisions you make are your full responsibility.

SWIFT and why it’s a big deal 👀

Unless you’ve been living under a rock for the last 50 years, you know that SWIFT runs the banks. Literally, no bank can transfer funds internationally without SWIFT. The West disconnected Russia from this system when it wanted to impose sanctions on the Kremlin.

The Society for Worldwide Interbank Financial Telecommunication is basically a messaging system, imagine THORChain or Synapse but for banks. In 2020, the network processed over 7 billion transfers; now multiply that by the fee you pay for international transfers and imagine the pile of cash they sit on.

Ripple initially planned on replacing that system with their newer, cheaper, faster alternative, with XRP as the middleman. Now, that hasn’t really worked out for them. So Chainlink, learning from Ripple’s mistakes, decided to go another route and partner up with the old money instead.

How Chainlink beat Ripple at their own game 🎮

On the 17th of July, Chainlink’s CCIP (Cross-Chain Interoperability Protocol) launched on mainnet and is currently in the early access phase. Today, it has become available to all developers across five testnets, which is one step away from full mainnet.

What's so cool about this? Well, it's a game-changer. 

It's like having a universal charger for all your devices. Suddenly, you can seamlessly connect, operate, and transfer digital goodies (tokens, NFTs) between blockchains. No more communication breakdowns, just smooth and secure operations.

The tech gurus are loving it too. Big players in the DeFi world, like Synthetix and Aave, are already using it. And guess what? Even the big financial institutions are catching the bug. Names like SWIFT, BNP Paribas, BNY Mellon and Citi are exploring how to use CCIP.

In a nutshell, Chainlink's CCIP is cutting through the multi-chain madness. One example – you’ll be able to ask the network to send USDT from Avalanche to Ethereum, swap that for ETH, and you’ll receive ETH on the other end.

Now the thing you all care about – price 📊

“Amazing news, Cryptonary! Now talk to me; what does this mean for LINK’s price?”

The news alone sent LINK up by +25% this week when most of the market hasn’t flinched. 

So far, it is being well received, but is it good or big enough to cause a breakout from this dreadful accumulation zone [$5.25-$9.50]? 

Is it big enough news to send it to $18 and beyond?

First off, this will depend on two factors:

1. Bitcoin and what it does (looks positive)
2. Whether CCIP causes an important shift in LINK’s fundamentals

So really, your answer is outside of these charts and in another data lane: revenue.

Has LINK become a better investment? 🤑

The news is excellent, usage is great, and billions of SWIFT messages sent through the system are also important, but none of it matters to us if LINK doesn’t capture that progress. So, does it?

Short answer: Yes.

Long answer: CCIP charges a small fee per transfer that must be paid in LINK or another asset with a 10% premium added. Naturally, most people will choose LINK to pay less in fees (especially institutions).

With limited access, complete novelty and a bear market, Chainlink was able to pull in $30,000 in the past few days.

We predict this number will grow to multi-millions by EOY; you can keep track of it here.

Add to this the fact that Chainlink updated its economic model to include staking, and all of a sudden; LINK is as sound as an investment as ETH is. 

But since it’ll connect multiple chains, can it even be bigger?

Well, determine whether SWIFT or banks are larger than ETH, and you’ll have your answer on whether LINK or ETH is poised to become bigger over the years.

TLDR: CCIP actually adds more usage and revenue to Chainlink, which LINK itself also captures in terms of value. So yes, a breakout is something we’re betting on. LINK just got a whole lot better overnight.

Cyptonary’s take 🧠

Chainlink's Cross-Chain Interoperability Protocol (CCIP) is a game-changer set to add more usage and revenue to Chainlink’s ecosystem. 

CCIP has gained traction among DeFi projects and even big financial institutions like SWIFT, BNP Paribas, BNY Mellon, and Citi by enabling seamless and secure operations between different blockchains.

The 25% bump in LINK after CCIP's launch is a good omen. And we foresee a breakout from the current accumulation zone potentially pushing LINK towards $18 or higher if  Bitcoin's performance remains positive and CCIP brings about a significant shift in Chainlink's fundamentals.

The future is always uncertain, but CCIP’s launch is a significant development for Chainlink, and the future just got brighter for LINK.

As always, thanks for reading.🙏

Cryptonary, out!

Other news

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• Polygon 2.0 upgrade will change the face of that Polygon; a new token, POL, will replace MATIC.
• Avalanche continues to gain users at an astounding rate, reaching 1.76 million in the first 2 weeks of July.
• GMX votes to direct 10% of revenue to its treasury.