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
AUD/JPY Price Forecast: Holds gains above 110.50, but maintains bearish bias below 100-day SMA
Hollywood Plans "Film Production Reshoring"! US Economic "Soft Landing" Welcomes a $249.1 Billion Film Incentive Blueprint
A study shows that federal incentives for film and television production will bring $249.1 billion in revenue to the U.S. economy by 2035 and add 143,500 full-time jobs. The Motion Picture Association has been working with Hollywood unions to launch a campaign for national incentives to better compete with markets such as the United Kingdom and Australia.
Tonight, a "dovish rate hike"?
The Federal Reserve is almost certain to raise interest rates tonight, but the key issue is "what will be said after the hike." Citi characterizes this move as a "fine-tuning" adjustment, suggesting there is no inevitable future rate hike, yet warns that if Chairman Powell does not provide clear forward guidance, it will trigger significant market volatility. Goldman Sachs bluntly stated that there is insufficient economic foundation for this rate hike, with inflation being merely a one-off factor, and expects this to be a "signal-less rate hike."
JPMorgan: "Open source disruption" and "AI safety" are not issues, there is still room for capital expenditure in the next two years, semiconductor equipment will become the "new bottleneck"
JPMorgan believes that open-source models are not a threat, regulatory disruptions are only short-term, and cloud vendors’ leverage remains low—the fundamentals of computing power investment have not changed. It forecasts that the capital expenditure of the seven major tech giants will soar from $443 billion in 2025 to $1.577 trillion in 2027, with semiconductor equipment becoming the core bottleneck of the supply chain and a new round of price increases expected in wafer foundry and advanced packaging.
Crypto prices
More
