Chainlink, a decentralized oracle network, announced a strategic partnership with Mastercard to promote cryptocurrency adoption among users.
Chainlink and Mastercard Partnership
The collaboration between Chainlink and Mastercard aims to integrate Chainlink's interoperability infrastructure into Mastercard's payment network, allowing 3 billion cardholders to purchase crypto assets directly. The partnership will utilize Zerohash for compliance and liquidity, and Shift4 Payments for card processing.
Impact on LINK Market
Following the announcement, LINK's price surged, making it one of the fastest-growing cryptocurrencies among the top 20 by market capitalization. The average trading volume of LINK was around $686 million over 24 hours, reflecting positively on its price.
LINK Prospects and Technical Analysis
Despite the recent surge, short-term technical analyses indicate a bearish sentiment for LINK. If BTC falls below $100k, LINK might drop below $10 to test support at around $9.2. However, a close above resistance near $17 could revive bullish sentiment for the medium term.
The partnership between Chainlink and Mastercard may serve as a significant step towards the mainstream adoption of cryptocurrencies, while technical analyses present mixed short-term forecasts for LINK.
