Key Takeaways:
Chainlink added 7 integrations across 6 services and 4 chains in May, extending its lead as the dominant oracle network for institutional tokenization.
"Chainlink is becoming the infrastructure layer that connects traditional finance to blockchain networks, and the pace of adoption is accelerating," Bitwise CIO Matt Hougan said, naming LINK one of crypto's most promising assets for institutional players.
The Depository Trust and Clearing Corporation selected Chainlink to power a 24/7 collateral management network in May, while Kraken, Solv Protocol, and KelpDAO all migrated from LayerZero to Chainlink's Cross-Chain Interoperability Protocol after a $300 million exploit on the competing bridge. Combined, the migrations shifted more than $2 billion in total value locked to CCIP.
Chainlink's reserve has surpassed 3.9 million LINK as revenue-driven accumulation accelerates, and the network's Proof of Reserve system was adopted by Korean won stablecoin KRWQ. With FIFA prediction markets going on-chain using Chainlink oracles and the DTCC pilot expected to expand, LINK's role as settlement infrastructure for both crypto-native and TradFi applications is deepening.
The LayerZero Exodus Accelerates CCIP Dominance
The migration wave began in early May when KelpDAO announced it would move rsETH to Chainlink CCIP following a $300 million exploit on LayerZero. Solv Protocol and Re followed within days, shifting nearly $1 billion in assets. Kraken, one of the largest US-regulated exchanges, completed the switch on May 15, citing CCIP's security architecture and institutional-grade compliance tooling.
The cumulative effect has been a dramatic redistribution of cross-chain TVL. LayerZero lost approximately $2 billion in locked value across the three major defections, while Chainlink's CCIP saw its total value secured rise to record levels, according to DefiLlama data.
Institutional Pipeline Extends Beyond Crypto-Native Use Cases
Chainlink's institutional traction now spans multiple verticals. The DTCC deal, announced May 12, will use Chainlink oracles to automate collateral workflows across global blockchains, marking one of the most significant integrations of blockchain infrastructure by a traditional financial market utility.
Ondo Finance partnered with Chainlink in February to enable tokenized US stocks as DeFi collateral, while Grayscale's tokenization report in May named LINK alongside ETH and SOL as key assets in the $30 billion real-world asset market. The network's Functions and ACE compliance tools have also attracted interest from regulated entities seeking verifiable off-chain compute and privacy features.
On-Chain Metrics Support the Accumulation Thesis
Chainlink's network revenue has been rising as integration volume grows. The Chainlink reserve — a pool of LINK tokens used to align node operator incentives — surpassed 3.9 million LINK in late May, reflecting what analysts describe as revenue-driven accumulation rather than speculative buying.
LINK traded at $8.10 as of 09:33 UTC on June 18, down 0.58% in the past 24 hours but holding above the $8.00 support level that has contained selling pressure since the DTCC announcement. The 7-day range of $7.55 to $8.59 suggests the token is consolidating after the May rally, with the $8.60 resistance level representing the next upside target.
The combination of TradFi infrastructure deals, crypto-native protocol migrations, and expanding oracle use cases positions Chainlink as a critical middleware layer in the growing tokenization economy. With the DTCC pilot expected to go live in the coming months and FIFA's World Cup prediction markets providing a high-profile consumer use case, the network's integration count is likely to accelerate further through the second half of 2026.
This article is for informational purposes only and does not constitute investment advice.
