Chainlink Surges 3.85% Amid CCIP Adoption, Technical Breakout

Chainlink's LINK cryptocurrency surpassed $10 for the first time since May, following a speech by co-founder Sergey Nazarov at the White House. Nazarov discussed stablecoin adoption and the tokenization agenda. LINK has gained 19% in the past week, but technical indicators suggest potential price retracement due to overbought conditions and resistance levels. Whale activity shows mixed signals, with some expecting a pullback.

The CFTC's new Innovation Advisory Committee, chaired by Walt Lukken, held its first meeting with 40+ members, including CEOs from Coinbase, CME, Kalshi, and other crypto and traditional market firms. The agenda covered crypto regulation, AI in finance, and prediction markets. The CFTC has a track record in crypto regulation, including approving bitcoin perpetual futures contracts. The meeting follows a White House event where President Trump discussed crypto regulation with industry executives.

Bitcoin held steady ahead of the July U.S. CPI release, up about 0.23% to around $63,979, with total crypto market cap near $2.19T. Harmony confirmed an exploit where an attacker minted about 4B ONE tokens via empty blocks, about 26% of supply, sending ~2.8B to exchanges. ONE fell up to 40% to a record low.

Chainlink said Circle’s Arc joined Chainlink Scale, giving Arc access to oracle infrastructure, with named participants including BlackRock, DTCC and Mastercard. Chainlink Functions and Automation were merged into CRE workflows, with Aave, Polymarket, Sky and Opinion Labs upgraded. Chainlink Reserve conducted another LINK buyback (139,956 LINK, about $1.13M). LINK trades near $8.20.

BitGo said it moved its WBTC cross-chain infrastructure to Chainlink CCIP, making CCIP the exclusive provider for WBTC and future BitGo-issued digital assets. The transfer covers about $7.7 billion in WBTC. BitGo and Chainlink cite CCIP securing $110 billion in DeFi applications and $32 trillion in cumulative processed value.

BitGo said it replaced LayerZero with Chainlink CCIP for Wrapped Bitcoin (WBTC) cross-chain transfers, making CCIP the default and aligning deployments with Chainlink’s CCT standard. CoinDesk reported $7.3 billion of WBTC migrations, with $14.6 billion total publicly announced LayerZero-to-Chainlink moves. BitGo said it will keep control over token contracts and transfer limits; no completion schedule was given.