Monday, 17 June 2024

Crypto News

Chainlink soars after DTCC completes major pilot; Bitbot readies for market entry

Chainlink soars after DTCC completes major pilot; Bitbot readies for market entry

  • Chainlink price rose more than 20% in 24 hours, reaching $16.62 at the time of writing on Friday.
  • LINK surged as the Depository Trust and Clearing Corporation (DTCC) announced it completed its Smart NAV pilot.
  • Bitbot, Telegram’s pioneering non-custodial crypto trading bot, continues to surge in presale.

Chainlink and the Depository Trust and Clearing Corporation (DTCC) have announced a successful pilot for the fund tokenization market. The news saw Chainlink’s native token LINK soar more than 20% in 24 hours to lead the top altcoins.

Meanwhile, the Bitbot presale is creating waves as the ICO nears its penultimate stage.

Chainlink, DTCC complete Smart NAV pilot

The Depository Trust and Clearing Corporation (DTCC) announced on Thursday that it had successfully completed a pilot program dubbed “Smart NAV”. 

Smart NAV is an initiative that aims at a standardized method of delivering funds’ Net Asset Value (NAV) onchain.

For this goal, the pilot project tapped into DTCC’s digital asset capabilities and Chainlink’s cross-chain interoperability protocol (CCIP) to bring trusted data on-chain.

This particular pilot involved ten major financial institutions, including BNY Mellon, American Century Investments, Edward Jones, Franklin Templeton, Invesco, JPMorgan, MFS Investment Management, Mid Atlantic Trust and State Street.

Chainlink price surges 20%

Chainlink price reacted higher following the news, surging by more than 20% to hit highs of $16.62. The 24-hour trading volume rose 251% to above $1.2 billion.

This positive reaction to the news comes amid a growing institutional presence in the tokenization industry, with most of the projects leveraging Chainlink’s CCIP.

So far, the real-world assets (RWA) train has included a major program by the world’s leading asset manager BlackRock.

Bitbot’s AI-powered bot set for Telegram launch

Bitbot is poised to be the biggest crypto trading bot to hit the Telegram apps market this year.

The new project, which pioneers the world’s first non-custodial, AI-powered trading bot, is currently in presale. Early investors have raised more than $3.4 million as the token sale accelerates in stage 13.

The new trading solution’s launch, which will follow the conclusion of the 15-stage ICO sale, will see Bitbot make its debut in a market that has quickly grown.

Data shows bots have surpassed…

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