Chainlink has just rolled out an upgrade to its Cross-Chain Interoperability Protocol, the CCIP, and it’s cheered by developers and investors alike.
The new cross-chain feature
On January 15, Chainlink announced that the CCIP v1.5 upgrade is now live on the mainnet, allowing developers to create and manage Cross-Chain Tokens, or CCTs with ease.
This means you can take your tokens across more than twenty blockchains in just a few minutes. Pretty useful feature.
The new CCT standard gives developers full control over their tokens while ensuring smooth transfers across different blockchains.
With features like zero-slippage transfers and enhanced programmability, this upgrade is all about making cross-chain operations simpler and more efficient.
Chainlink’s CCIP allows developers to deploy pre-audited contracts without needing to inherit any specific code in their token’s smart contract.
So, if you’ve got an ERC-20 token, you can easily turn it into a CCT without jumping through hoops.
LINK’s price reacts to the news
Zach Rynes, a Chainlink community ambassador, tested the system and reported that he created a new Cross-Chain Token called CLG in just minutes, transferring it between layer-2 networks Base and Arbitrum.
After the announcement, Chainlink’s native token, LINK, saw a nice boost, climbing about 6% to hit an intraday high of $20.60 during early trading in Asia.
While LINK has faced some turbulence lately, down around 30% from its mid-December high of over $30, this latest development has given investors something to cheer about.
Whales are curious, and adoption is growing
Whales have been busy too, snapping up 1.35 million LINK in the past 24 hours, which helped push the price back up after a dip earlier this week.
The next big hurdle for LINK? Breaking through that $24 resistance level it last touched on January 6.
Chainlink CCIP v1.5 is awesome 🔥
I just created a Cross-Chain Token called $CLG in a couple minutes and transferred it between @base and @arbitrum
Fully permissionless and no coding required, just used the new CCIP Token Manager to create the token and @transporter_io to… pic.twitter.com/ptpLlVWd17
— Zach Rynes | CLG (@ChainLinkGod) January 14, 2025
This upgrade not only enhances Chainlink’s offerings but also aligns with its new partnership with Ripple to promote Ripple USD, further solidifying its role in the sector of cross-border payments.
