Chainlink (LINK) to prioritize Real World Asset (RWA) tokenization in 2024

Chainlink (LINK) to prioritize Real World Asset (RWA) tokenization in 2024

Chainlink’s fourth-quarter report reveals what enthusiasts can expect for the coming year. The cryptocurrency project will further integrate real-world asset tokenization and TradiFi in 2024.

Previously, it prioritized the Cross-Chain Interoperability Protocol, a new data solution, and the introduction of developer functions within the LINK blockchain.

Meanwhile, Chainlink will shift its attention from enhancing transaction speed to supporting RWA tokenization-related projects, making them more accessible for clients and boosting liquidity.

Chainlink’s push into the RWAT sector

LINK’s platform introduced the Cross-Chain Interoperability Protocol in July to bolster security within the blockchain. That attracted financial institutions and banks. Chainlink’s 2024 strategy shows the network will switch from prioritizing the CCIP technology to exploring the Real World Asset tokenization space.

Bringing RWA On-chain: Chainlink as a proven track record of connecting the blockchain world to the real world, with the introduction of CCIP, real-life firms are now able to explore tokenization of assets and seamlessly bring their products and services on-chain.

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— moh.0X 🦅🚀 (@0x_moh_) December 16, 2023

RWA are non-fungible or fungible tokens representing traditional assets on the blockchain. Chainlink wants to dominate the Real World Assets industry where projects that want to venture into the revolution will use LINK to fuel the transition.

Moreover, developments such as dominating the decentralized finance industry poises Chainlink for a bright future, and holders might enjoy significant returns in 2024.

LINK’s potential price recovery

Chainlink traded at $14.43 at press time, down 0.47% in the past day. It gained nearly 2% in the previous seven days, and some analysts forecast upside reversals for the altcoin. Bluntz revealed that the alt formed a bullish divergence.

The analyst projects a substantial uptick to $20, taking LINK to value areas not witnessed since January 2022.

ok $link swept 13.9 one final time and made the 5th wave down for C and beautiful HTF divs aswell

I believe this is a major wave 4 low now in.

$20 en route, RIP anyone who capitulated.

long with me for financial freedom 👇https://t.co/zHX9WYRMOM pic.twitter.com/zI6MxlJAsw

— Bluntz (@Bluntz_Capital) December 18, 2023

That would translate to a nearly 40% jump from the alt’s current price. Chainlink exhibits a bright future, and holders might enjoy significant returns in 2024.

The analyst projects a substantial uptick to $20, taking LINK to value areas not witnessed since January 2022. That would translate to a nearly 40% jump from the alt’s current price.

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