Virtuals Moves 700M VIRTUAL to Chainlink CCIP Following KelpDAO Hack » CoinEagle
Key Points
- Major protocols migrate billions to Chainlink CCIP after bridge security concerns.
- LINK trades near $7.60, with $7 support and $10 resistance in focus.
Recent developments in Chainlink show its Cross-Chain Interoperability Protocol (CCIP) gaining traction as protocols reassess bridge-related risks.
LINK is trading around $7.60, down roughly 3.5% over the past 24 hours, as migration activity reshapes cross-chain infrastructure demand.
Virtuals Protocol confirmed it is moving more than $700 million in VIRTUAL liquidity from LayerZero to CCIP.
The shift follows the KelpDAO exploit, which resulted in the loss of approximately 116,500 rsETH valued near $300 million, prompting broader scrutiny of bridge infrastructure.
KelpDAO has described the incident as a systemic LayerZero infrastructure failure.
Solv Protocol is also transferring more than $700 million in Bitcoin-related assets, including SolvBTC and xSolvBTC, to CCIP.
In total, over $3 billion in total value locked across multiple DeFi platforms is being rotated toward Chainlink’s oracle-driven cross-chain framework.
LINK Price Levels as CCIP Usage Expands
Technically, LINK remains within a consolidation range viewed by analysts as constructive but undecided.
The token holds above short-term support between $7 and $7.20, with a stronger demand zone around $6.60 based on previous consolidation.
Immediate resistance appears near $8.80, followed by a heavier supply region approaching $10 where prior rallies stalled.
On-chain data indicates CCIP recently recorded a peak daily active address count of about 80,428, reflecting growing network usage.
Market participants are monitoring whether sustained activity and migration flows translate into renewed institutional interest.
A breakout above $8.80 could open a path toward the $10–$12 range if buying momentum strengthens.
Conversely, a confirmed move below $7 support may expose LINK to a retest of the $6.60 level.
LiquidChain Positions Within Cross-Chain Infrastructure Trend
The migration wave highlights increasing competition among interoperability-focused infrastructure providers.
LiquidChain, a Layer 3 protocol, presents itself as a unified cross-chain liquidity environment integrating Bitcoin, Ethereum, and Solana into a single execution layer.
The project outlines features including unified liquidity aggregation, single-step execution, verifiable settlement, and deploy-once architecture for developers.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Are Those Selling Bitcoin Making a Big Mistake? Stacks Founder Makes Noteworthy Bull Market Statement
Stellar’s tokenized asset market reaches $4.1 billion, market share triples
NVIDIA (NVDA.US) management changes may affect Anthropic's IPO plans; the market is watching whether the multi-billion-dollar investment will change
With the sudden departure of Nvidia CEO Jensen Huang, the record-breaking initial public offering plan of AI giant Anthropic is being reconsidered by the market.
Nebius Q3 results exceed expectations, capital expenditure rises to $27 billion, ARR target postponed, stock falls over 14% pre-market | Earnings Report Insights
Nebius reported Q3 revenue of $981 million (a year-on-year increase of 571%) and adjusted EBITDA of $466 million, both exceeding expectations. However, the company delayed and lowered its guidance for annual recurring revenue (ARR), stating that it is no longer applicable. Additionally, it significantly raised its 2026 capital expenditure target to $27 billion, with projections to further increase to $40 billion to $45 billion in 2027. The stock price plummeted more than 14% in pre-market trading.
Crypto prices
More
