Chainlink has announced a major collaboration with Japan’s SBI Group aimed at advancing tokenized assets and stablecoin infrastructure, even as LINK prices pulled back.
Chainlink’s native token, LINK, slid nearly 5% in the past 24 hours, trading around $23.47 despite news of a high-profile partnership with SBI Group, one of Japan’s largest financial institutions. The agreement seeks to expand the adoption of tokenized real-world assets and stablecoin solutions, a move many industry experts view as a cornerstone for blockchain integration in traditional finance.
On the charts, LINK recently rejected from the $27–$28 resistance zone, pulling back to the $23–$24 support area. Analysts point out that the token had rallied sharply from $15 in recent weeks, but the broader market weakness weighed on momentum.
“Despite strong fundamentals from the SBI partnership, Chainlink is facing technical headwinds. The $23 support is crucial; losing it could send prices back toward $20, while reclaiming $26 may revive bullish momentum,” said BITX market strategist.
Volume has also spiked during the pullback, signaling active profit-taking by traders after the rapid summer rally.
The collaboration with SBI Group aims to integrate Chainlink’s oracle technology into financial products that involve tokenized securities and stablecoins. Market participants believe this could accelerate Japan’s digital asset transformation, as the country pushes regulatory clarity around blockchain-based financial instruments.
“This partnership is about bridging traditional finance with blockchain infrastructure. It positions Chainlink as a critical player in tokenization, not just in Japan but globally,” According to BITX analyst.
For now, LINK’s short-term trajectory depends on its ability to defend the $23 zone. A sustained bounce could set the stage for another attempt at $26–$28, while a breakdown risks a deeper correction toward $20.
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