Oracle network Chainlink’s (LINK) native token showed remarkable strength during the Wednesday session as cryptocurrencies attempted to bounce back from yesterday’s carnage.
LINK topped $26, gaining 8.3% over the past 24 hours and erasing Tuesday’s losses. It vastly outperformed most large-cap cryptos, including bitcoin’s (BTC) modest 0.5% and ether’s (ETH) 4% rebound during the same period.
The crypto market benchmark CoinDesk 20 Index was up 1.5%.
The token’s relative strength underscores Chainlink’s improving appeal to crypto investors as a key piece of infrastructure connecting traditional markets with blockchain rails, benefiting from accelerating institutional adoption.
Sergey Nazarov, co-founder of Chainlink, said on Tuesday he met with U.S. Senator Tim Scott, Chairman of the Senate Banking Committee, leading the effort to bring the market structure bill to the Senate.
„This new version of the market structure bill has many advantages over past versions, enabling our industry t
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