Chainlink (LINK) Price Records a 5% Surge as Abu Dhabi Global Market (ADGM) Inks Strategic Alliance

The Abu Dhabi Global Market (ADGM), the UAE capital's premier International Financial Centre (IFC), has announced a Memorandum of Understanding (MoU) with Chainlink, the industry standard for blockchain-based financial infrastructure. This partnership marks a major step forward in advancing compliant tokenization frameworks and fostering blockchain innovation across the region.

The Abu Dhabi Global Market (ADGM), the UAE capital’s premier International Financial Centre (IFC), has announced a Memorandum of Understanding (MoU) with Chainlink, the industry standard for blockchain-based financial infrastructure, to support the development of compliant tokenization frameworks and foster blockchain innovation across the region.

This partnership will see Chainlink’s cutting-edge interoperability tools and verifiable data services integrated into ADGM’s ecosystem, with support from the ADGM Registration Authority. The initiative aims to maximize the utility of tokenized assets and ensure regulatory compliance, paving the way for a surge in innovative blockchain projects.

“This strategic alliance is a significant step in further solidifying ADGM’s leadership in enabling blockchain innovation and enhancing alignment in the regulatory approach globally. By collaborating with Chainlink, we are aiming to set a global benchmark that spearheads transparency, security, and trust across the blockchain space,” said Hamad Sayah Al Mazrouei, CEO of ADGM Registration Authority.

The MoU will also see the two organizations fostering a dialogue on regulatory matters in blockchain, AI, and other emerging technologies.

A strategic alliance with regulatory bodies like ADGM will bolster investors’ confidence towards Chainlink, and its native cryptocurrency, LINK.

The last two weeks have seen the Chainlink price bounce from $11.85 to reach its current trading value of $15.2, showcasing a 28.2% growth. The rising price is currently challenging an initial barrier of 20-day EMA, seeking a suitable pivot for further push.

If the breakout sustains, the LINK price is likely to surge 30% and retest the resistance trendline of falling channel patterns around $20. Since mid-December 2024, the coin price has been resonating within two downsloping trendlines of this pattern, providing dynamic resistance and support.

The potential retest would be a pivot movement for Chainlink coin as a bullish will further accelerate the buying momentum, but a reversal could plunge value by 35-45%, as the previous data.