- Sergey Nazarov stated that the US stablecoin regulation, through the GENIUS Act, will set off international demand for brand spanking new stablecoins.
- Nazarov explains that Chainlink’s proof of reserves and cross-chain connectivity could be required for the stablecoins’ tokenized funds.
- LINK’s ecosystem permits seamless deployment and administration of all providers—reserves, connectivity, and compliance—through a single workflow code.
Chainlink (LINK) CEO Sergey Nazarov stated that the lately accepted stablecoin regulation, the so-called GENIUS Act within the US will kick off a wave of recent stablecoins and LINK could profit from it. LINK’s proof of reserves and cross-chain connectivity, Nazarov stated on his official X profile, could be required for the stablecoins as a supply of cost for the rising digital asset economic system and tokenized funds.
Chainlink’s proof of reserves and cross-chain could assist stablecoin development
Probably the most awaited invoice, GENIUS, was passed this week on Tuesday. The invoice was handed by a 68-30 vote within the US Senate and headed to the Home of Representatives earlier than it could attain the President’s desk. This invoice goals to control stablecoin issuers within the US and assist to determine a authorized framework, which could improve their legitimacy and facilitate wider adoption.
“Stablecoin regulation within the US will kick off a wave of recent stablecoins within the US and all around the world,” Nazarov stated.
LINK’s proof of reserves and cross-chain connectivity could be required for the stablecoins as a supply of cost for the rising digital asset economic system and tokenized funds, he stated.
Nazarov acknowledged: “Chainlink is the one platform that gives proof of reserves and cross-chain connectivity in a single system.”
The founder added that, because the complexity of blockchain transactions will increase with the addition of extra information, connectivity, compliance, and different necessities, LINK could be the platform to assist these requirements. Moreover, the Configuration Runtime Environment (CRE) technology, deployed last year, permits builders to determine quicker connections to their apps throughout all chains related to the Chainlink platform.
Chainlink technical outlook: LINK rebounds for key day by day assist stage
Chainlink worth confronted rejection round its descending trendline (drawn by connecting a number of excessive ranges since mid-December) on June 11 and declined by 16% till Tuesday. Nonetheless, it rebounded after discovering assist round its day by day stage of $12.59. On the time of writing on Thursday, it continues to get well barely, buying and selling round $13.2.
If the day by day stage at $12.59 continues to carry as assist, LINK could lengthen the restoration towards its 50-day Exponential Shifting Common (EMA) at $14.37.
The Relative Power Index (RSI) learn 42, under its impartial stage of fifty, indicating bearish momentum. The RSI ought to transfer above its impartial stage of fifty to assist the restoration.
LINK/USDT day by day chart
If LINK closes under its day by day assist at $12.59, it could lengthen the decline towards its April 16 low of $11.89.
