Hedera has officially integrated Chainlink’s cross-chain interoperability protocol (CCIP) on its mainnet, opening new possibilities for decentralized application developers.
Protocol Integration
In an official announcement on April 8, it was reported that Hedera developers can now transfer tokens, send messages, and initiate actions between Hedera and more than 46 other blockchains.
CCIP Features
CCIP utilizes Chainlink’s oracle technology for secure communication between blockchains. The protocol secures over $20 trillion in on-chain value and supports well-known decentralized finance platforms like Aave and Lido DAO.
Current HBAR Market Status
Despite recent achievements, Hedera’s total value locked has dropped from a peak of $213 million in January to $74 million as of April 9. Meanwhile, the volume of stablecoins on Hedera has more than doubled this year.
The integration of CCIP opens new opportunities for developers and may impact the HBAR market in the future despite current price fluctuations.
