Token news: Arta TechFin e Chainlink expand their collaboration for the tokenization of real-world assets (RWA), including those in the real estate sector. Let’s see all the details below.
Chainlink Innovation for tokens: bringing real-world assets (RWA) on-chain
As anticipated, the tokenization of real-world assets (RWA) is considered the next great frontier for the blockchain industry.
Chainlink continues indeed to expand its global partnerships with a particular focus on the tokenization of real-world assets and cross-chain transactions.
On May 21, the leading blockchain oracle network announced the expansion of its collaboration with Arta TechFin, a wealth management and financial services company based in Hong Kong, to bring real-world assets onto the blockchain.
Eddie Lau, CEO di Arta TechFin, stated the following:
“The partnership aims to meet the market demand for a comprehensive solution that addresses difficulties, from primary off-chain origin to secondary trading, improving product integrity.”
According to Chainlink, the RWA are worth globally 867 trillion dollars. Tokenization would increase the velocity of money, making previously illiquid assets such as real estate and collectibles electronically tradable.
The settore immobiliare, in particolare, is known for its scarsa liquidità and the difficoltà nelle transazioni. Without an acquirente in contanti, a typical transazione immobiliare in the United States can take from 30 to 60 days to be completed.
Once completed, the resale of a house or the use of capital requires complex and lengthy processes that can take months.
The introduction of real-world assets on the blockchain is supported by Chainlink’s real-time price feeds and the CCIP interoperability protocol, which allow the oracle network to interact with other blockchains and transfer assets between different chains.
Transfer of value between blockchain
In 2023, SWIFT, the interbank messaging protocol, announced a collaboration with Chainlink to test the transfer of value between different blockchain protocols.
More recently, Chainlink has initiated a similar pilot program with the Depository Trust & Clearing Corporation (DTCC) and major banking institutions such as BNY Mellon, JP Morgan, and Edward Jones.
The objective of this pilot program was to bring bank fund data onto the blockchain. However, Chainlink is not the only company focused on introducing real-world assets onto the blockchain.
Companies like Ripple Labs continue to form partnerships with the intent to tokenize real-world assets, including real estate, stocks, mortgages, and bonds.
According to the CEO Brad Garlinghouse, Ripple has made agreements with JPMorgan, Santander, and IBM to tokenize assets on its blockchain ledger, a primary goal for the company.
Chainlink (LINK) reaches a monthly high, could a correction follow?
The price of Chainlink (LINK) has surpassed the consolidation phase, recording a monthly high in less than a week. However, this increase could induce LINK holders to sell their holdings to secure the gains.
Currently, Chainlink is being traded at around $16.8, with an increase of nearly 30% in the last week. This rapid rise has led the altcoin to a condition of saturation, historically associated with price corrections.
This scenario is highlighted by the relative strength index (RSI), a momentum oscillator that measures the speed and change of price movements.
Remember that the RSI ranges from 0 to 100, with values above 70 indicating overbought conditions and values below 30 indicating oversold conditions. Currently, the RSI of LINK is above 70 on the 12-hour chart, suggesting an overbought condition.
L’ultima volta che ciò è accaduto, a febbraio, il rally di LINK si è fermato, e lo stesso potrebbe accadere ora.
Moreover, investors might be incentivized to sell if the current bull trend were to reverse.
The rapporto tra valore di mercato e valore realizzato (MVRV) di Chainlink, attualmente al 16%, segnala una potenziale presa di profitto. Storicamente, LINK tende a correggere quando l’MVRV si trova tra il 10% e il 20%, rendendo questa una zona rischiosa per gli investitori.
