Chainlink Launches Cross-Chain Token (CCT) Standard, LINK Adds 6%

On January 15, the Chainlink team announced that the Cross-Chain Interoperability Protocol v1.5 update was now available on the mainnet for all developers.

The update allows developers to cross-chain their tokens “in a self-service manner” and deploy cross-chain tokens (CCTs) to more than twenty blockchains in minutes, he added.

CCIP is a secure and easy-to-use protocol for transferring tokens and messages across multiple blockchains.

New standard of Chainlink CCT

CCIP v1.5 introduces the Cross-Chain Token (CCT) standard, Chainlink explained. The new standard gives developers “full control and ownership, improved programmability and no-slip transfers,” he added.

“CCIP v1.5 is a major update to the CCIP developer experience, making it easier than ever to incorporate new or existing tokens into the CCT standard and integrate CCIP into cross-chain applications.”

He stated that CCTs do not require developers to inherit any specific CCIP code within their token’s smart contract, and that they can deploy pre-audited coin contracts to convert any ERC-20 compatible asset into a CCT.

The update also includes a CCIP Token Manager that provides a simplified user interface for developers to launch and manage CCTs.

The Chainlink CCIP v1.5 update is now live on the mainnet for all developers.

This release allows developers to cross-chain their tokens in a self-service manner, deploy cross-chain tokens (CCTs) to 20+ blockchains in minutes, and more.

Full details ↓ pic.twitter.com/9xzahbZVzb

— Chainlink (@chainlink) January 14, 2025

Developers can also manage CCT deployments with “Smart Accounts,” which will require approval from multiple owners to authorize transactions, he added.

CCIP will also help increase access to the USDC bridge to “help prevent liquidity fragmentation and accelerate DeFi adoption in the multi-chain ecosystem,” he said.

Chainlink Community Ambassador Zach Rynes tested the system, reporting that he created a cross-chain token called CLG in a couple of minutes and transferred it between the Layer 2 Base and Arbitrum networks.

Chainlink CCIP v1.5 is great

I just created a Cross-Chain token called $CLG in a couple of minutes and transferred it between @base i @arbitrum

Completely permissionless and no coding required, just use the new CCIP Token Manager to create the token and @transporter_io to… pic.twitter.com/ptpLlVWd17

— Zach Rynes | CLG (@ChainLinkGod) January 14, 2025

In early January, Chainlink partnered with Ripple to accelerate adoption of the cross-border payments company’s stablecoin, Ripple USD (RLUSD).

LINK Price increase

The protocol’s native token, LINK, gained about 6% on the day to hit an intraday high of $20.60 during early trading in Asia on Wednesday.

Like most altcoins, LINK has taken a beating over the past month, falling around 30% from its mid-December high of just over $30.

According to Santiment, whales have bought 1.35 million LINK over the past 24 hours, bringing its price back to the $20 resistance after a drop to $18.24 on Monday.

The next area of ​​resistance to overcome is around the $24 level, where LINK was last touched on January 6th.

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