Chainlink (LINK) rose above $10.60 after co-founder Sergey Nazarov addressed a White House technology event and Nethermind announced a move into Chainlink infrastructure.
Key Points:
- LINK moved above $10.60 after two developments raised attention around the network.
- Nazarov said U.S. regulation is helping stablecoins expand, while Nethermind is joining Chainlink as a node operator.
- LINK later consolidated near its recent highs, with momentum indicators still positive.
Chainlink Price Move
LINK traded above $10.60 on Aug. 20 before settling near that level, according to AMBCrypto, extending gains during a broader crypto market rebound. The move followed two developments that put Chainlink in focus across policy and blockchain infrastructure.
At the White House technology leaders event, Nazarov said recent U.S. regulatory changes were expanding stablecoin adoption. He pointed to the GENIUS Act and the use of U.S. government debt in stablecoin reserves as factors supporting wider distribution of dollar-backed digital assets. “There’s a very real and tangible outcome that’s benefiting the adoption of U.S.-issued assets and the U.S. dollar,” he said.
Nethermind also said it is leaving its LayerZero verifier role and joining Chainlink as a node operator after an internal review. The Ethereum (ETH) engineering firm will help secure Chainlink’s Cross-Chain Interoperability Protocol, or CCIP, and Data Feeds, while providing infrastructure and integration support.
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Sergey Nazarov Outlook
LINK’s hourly momentum remained positive after the jump, although the pace slowed. The relative strength index stood near 64, while on-balance volume improved and then held relatively steady, indicating the token was consolidating rather than extending its advance immediately.
Nazarov said tokenized stocks could follow stablecoins toward wider adoption as U.S. rules become clearer. Chainlink already supplies infrastructure used in tokenized asset and stablecoin applications, giving the network exposure to a market segment Nazarov expects to expand.
Nethermind CEO Daniel Celeda described the Chainlink move as a long-term infrastructure decision tied to the growth of on-chain finance. Nethermind said it will bring experience from its Ethereum execution client to its new node-operator role, but it did not give a timeline for completing the migration.
The infrastructure shift also follows an April exploit involving a LayerZero-powered bridge used by Kelp DAO. That incident became part of a broader reassessment of cross-chain security, although Nethermind has not said the exploit caused its decision to move.
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