While the majority of the tokens continued to bow to the ongoing crypto market bloodbath, Chainlink (LINK) has today received a boost after Robinhood listed it on its trading platform.
At the time of writing, LINK was trading at $6.62, up 2.65% after retracing from a daily high of $7.11, its trading volume has also spiked by 43.61% to sit at $619.4 million.
But why has the price of LINK surged as the other tokens continued with the dip? Let’s look into the reason behind the rally.
Robinhood lists Chainlink
LINK, the native token of Chainlink, has seen significant gains after Robinhood, a prominent crypto exchange in the US and the U, announced on Twitter that it has listed Chainlink on its trading platform.
LINK is now on Robinhood @chainlink #CryptoListing https://t.co/0aTjVAOhMy
— Robinhood (@RobinhoodApp) June 28, 2022
The announcement comes after Robinhood recently added support for popular tokens like Polygon (MATIC), Solana (SOL), and Shiba Inu (SHIB).
Chainlink integrations
Chainlink had earlier announced that PancakeSwap was integrating Chainlink keepers on the BNB chain. The integration was aimed at helping the users to automate their CAKE/USD prediction market securely.
Last week there were 15 integrations for 5 different Chainlink services across 5 different chains. The list consists of major chains like BNB, Moonbeam, Ethereum, Polygon, and Avalanche. These integrations were aimed at enabling Web3 developers to develop hybrid smart contracts using the chains tools.
FTX rumors to buy Robinhood
As we look at the reasons behind the LINK price rally, it is worth noting that Robinhood has been in the limelight after there were some rumors that FTX was planning to acquire Robinhood.
The reports noted that the discussions to deliberate on the plans were underway but FTX founder, Sam Bankman-Fried dismissed those claims. However, during an interview, the CEO said that they are looking forward to having a partnership with Robinhood, but there are no talks about that.
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