The LINK token from Chainlink has recently shown a significant price increase amid the announced partnership with Mastercard and an improvement in Middle Eastern relations.
LINK token price surge
The LINK token price increased by 13%, outperforming Bitcoin's ($BTC) gain of 2.8%. A key contributor to this surge was the announcement of the collaboration between Chainlink and Mastercard, allowing 3 billion Mastercard cardholders to make direct crypto purchases on-chain.
Chainlink and Mastercard partnership
The partnership between Chainlink and Mastercard marks a significant milestone in crypto adoption. It leverages the decentralized oracle mechanism of Chainlink to synchronize and verify transaction details on traditional financial networks and blockchains. This collaboration aims to bridge the gap between Web3 and Web2, enabling traditional cardholders to enter the blockchain sector.
Current market trends
The success of LINK coincides with an improvement in market conditions due to decreasing tensions between Iran and Israel, contributing to a recovery in nearly all leading cryptocurrencies. Currently, 98 out of the top 100 cryptocurrencies are showing significant growth, and Bitcoin has reached the $106,000 mark again.
The partnership between Chainlink and Mastercard demonstrates a strong potential for further price growth of LINK and highlights the importance of integrating traditional finance with blockchain technology.
