Chainlink (LINK) price continued its strong performance on Monday as the closely watched SmartCon Conference kicked off in Barcelona. The coin jumped to a high of $8.10 on Monday, 40% above the lowest point in September.
SmartCon Conference underwayChainlink has been one of the best-performing cryptocurrencies in the past few months. Together with Justin Sun’s Tron, the coin has outperformed other large coins like Bitcoin, Ethereum, and Polkadot.
A likely reason, as I have written before, is that Chainlink has taken a pole position in the tokenization industry. It is being used by a big bank like ANZ in Australia, Swift, the organisation that links thousands of banks, and Deposit Trust & Clearing Corporation (DTCC). The latter handles over $2 quadrillion every year.
SmartCon 2023 condenses the insights of 240+ speakers into 150+ panels, presentations, and keynotes across two jam-packed days.
If you're joining us in Barcelona or tuning into the livestream, here are seven #SmartCon presentations you won't want to miss ⬇️… pic.twitter.com/BKrklQWsQn
The most important Chainlink news of the week will be the ongoing SmartCon Conference in Barcelona. This is the flagship event for Chainlink, which brings together the biggest players in the ecosystem. Chainlink’s partnership with Swift was unveiled in this event in 2022.
SmartCon is featuring some of the biggest players in the financial and technology industry. Some of the most notable ones are Sergey Nazarov, the co-founder of Chainlink, Eric Schmidt, the former Google CEO, Laurence Moroney, the AI lead at Google, and Thomas Dugauquier, the head of tokenised assets at Swift.
Other notable speakers at the event are Kain Warwick, the co-founder of Synthetix, Jordi Baylina, the co-founder of Polygon, and Rene Reinsberg, the co-founder of Celo.
Therefore, this event matters for LINK price because I suspect that there will be several important announcements. In 2022, the biggest announcement was the network’s partnership with Swift, an organisation that handles billions of dollars every day.
Since then, the concept of tokenisation has become more widespread. The London Stock Exchange (LSE) is considering tokenising some of its assets, as I wrote here. Other companies like OpenTrade, Citigroup, and Abrdn have also embraced tokenisation.
Chainlink price forecast
The daily chart shows that the LINK crypto price has been in a strong bullish trend in the past few days. It has jumped above the 25-day and 50-day moving averages, which have made a bullish crossover pattern.
Chainlink is now approaching the important resistance point at $8.36, the highest point on July 21st and February 20th. The Relative Strength Index (RSI) has jumped to the overbought level. Therefore, the outlook for the token is bullish, with the next target level being at $9.624, the highest point in August and November 2022. This price is ~21% above the current level.
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