Chainlink’s native token, LINK, soared by 29% on December 3, as supporters positioned it as the genuine “bank coin,” drawing comparisons with XRP. The surge pushed LINK to a high of $25.32, up from $16.54 a week earlier, representing a 53% gain over seven days.
The rally follows a series of developments in Chainlink’s ecosystem and renewed debates within the crypto community regarding LINK’s role in connecting blockchain networks with traditional financial systems.
LINK Gains Momentum Amid Comparisons to XRP
LINK’s rise coincided with a notable rally by XRP, which recently climbed to $2.46 before retreating. XRP’s surge came as investors anticipated regulatory clarity and progress in Ripple’s stablecoin and central bank digital currency (CBDC) initiatives.
However, some Chainlink advocates argue that LINK’s partnerships with major financial institutions make it the real contender for the “bank coin” title. Aylo, a researcher and adviser to Kamino Finance, suggested that XRP’s recent rally could help shine a light on Chainlink’s growing presence in traditional finance.
‘Banker-Themed Memecoin’ Debate
Chainlink supporter Zach Rynes, known as ChainLinkGod on X, claimed that LINK is the true “bank coin” due to Chainlink’s collaborations with global financial institutions. Highlighting the project’s integration with major banks, he stated:
“All of this and more is not speculation or wishful thinking, it’s the real work Chainlink is doing with financial institutions, as announced by the banks themselves.”
In contrast, Rynes dismissed XRP as a “banker-themed memecoin” that failed to achieve meaningful adoption for cross-border payments. He argued that stablecoins and CBDCs have rendered bridge currencies like XRP obsolete, which is why Ripple is pivoting toward stablecoin and custody services.
Chainlink’s Expanding Ecosystem
The rally also reflects Chainlink’s broader ecosystem developments, including its role as a blockchain oracle network connecting decentralized applications with real-world data. Chainlink’s Proof of Reserve (PoR) and other services have bolstered its reputation as a key player in blockchain infrastructure.
With its recent price surge and growing list of financial collaborations, LINK is positioning itself as a leading contender in the evolving landscape of blockchain integration with traditional finance.
