Chainlink Surges 7% on Vodafone Collaboration, Analyst Confirms LINK Broke Macro Downtrend

The price of Chainlink’s LINK token surged over 7% following an announced collaboration with Vodafone’s Digital Asset Broker, Sumitomo Corporation, and InnoWave. The goal of the partnership is to improve inefficiencies in the global trade ecosystem using blockchain technology.

Vodafone revealed in a press release that the companies successfully demonstrated a proof-of-concept focused on seamless and secure document sharing across diverse platforms. The test used Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to enable synchronized data transfer between IoT devices, private blockchains, and public networks.

For example, the technology could allow an IoT sensor to autonomously trigger and communicate events like cargo fires to smart contracts and insurance providers. By enhancing interoperability and connectivity, the companies aim to streamline the fragmented $32 trillion global trade industry.

Chainlink’s LINK token surged from an intraday low of $9.84 up to $11.55 following the announcement, before settling around $10.86. The over 7% gain reflects investor enthusiasm for Chainlink’s pivotal role in the collaboration’s success.

Noted crypto analyst Rekt Capital also highlighted LINK breaking out of both its macro downtrend and recent trading range. This signals a confirmed trend reversal and upside breakout for the battered token.

As the leading decentralized oracle network, Chainlink helps blockchains interact with real-world data and systems. Its growing list of partnerships with major enterprise firms validates Chainlink’s key value in broad blockchain adoption.

The integration of Chainlink oracles and CCIP into Vodafone’s global trade platform demonstrates its utility for mission-critical business use cases. With the latest collaboration, LINK appears ready to capitalize on its expanding real-world adoption.

We recommend eToro

74% of retail CFD accounts lose money.
Active user community and social features like news feeds, chats for specific coins available for trading.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy thetrades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of


Petar Jovanović
Petar Jovanović

As the Head of Content at Captainaltcoin, I bring years of experience in the crypto industry. With a strong belief in the potential of the web3 market since 2017, I'm passionate about sharing valuable insights and knowledge. Feel free to connect with me on LinkedIn and let's discuss the exciting world of cryptocurrencies and decentralized technologies!