Chainlink
Why Chainlink is down 1.1% in the last hour
Analysis
Chainlink (LINK) slipped 1.1% over the past hour as market attention shifted toward broader institutional stablecoin and custody developments rather than LINK-specific catalysts. CoinDesk reported Standard Chartered’s move to offer RLUSD custody in Dubai and plans for an LMAX collateral link, a development centered on stablecoin infrastructure that didn’t directly benefit LINK in the near term, contributing to a mild risk-off drift for the token.
Contributing Factors (1)
Standard Chartered offers RLUSD custody in Dubai and plans LMAX collateral link
Ripple previously gave LMAX $150 million in financing to integrate RLUSD into its institutional infrastructure.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.