7.2 Billion in Assets Shift to Chainlink LINK via LayerZero Migration » CoinEagle
Key Points
- Over $7.24B in assets migrated from LayerZero to Chainlink’s CCIP since May.
- LINK consolidates near $8 resistance as markets assess migration impact.
More than $7.24 billion in cross-chain assets have shifted from LayerZero to Chainlink’s Cross-Chain Interoperability Protocol (CCIP) since May, highlighting growing adoption of its infrastructure.
Mantle’s Super Portal is the latest major project to confirm its move, adding to a wave of protocol migrations.
Mantle announced it will transfer its Super Portal, built with Bybit, from LayerZero’s Omnichain Fungible Token standard to Chainlink’s Cross-Chain Token standard.
The migration will support MNT transfers between Ethereum and Solana and represents approximately $2.5 billion in total value locked.
Other projects that have completed or initiated migrations include Kelp, Lombard, Solv Protocol, Virtuals Protocol, Re, Kraken, and Yuzu Money.
Collectively, these movements have pushed total migrated value beyond $7.24 billion, with security and interoperability cited as central drivers.
LINK Price Action Near $8 Resistance
Chainlink (LINK) is trading around $7.90, reflecting a modest 24-hour gain while consolidating within a narrow $7.85–$7.98 range.
Market capitalization stands near $5.9 billion, with volume in the hundreds of millions of dollars across major exchanges.
According to TradingView’s chart, near-term support is located in the low-$7 range, while resistance remains clustered around the $8 level.
Price action shows short-term consolidation rather than a confirmed breakout, with no significant analyst target revisions in recent sessions.
In a bullish scenario, continued CCIP migrations and institutional tokenization flows could drive a move above $8.
A base-case outlook suggests range-bound trading between $7.80 and $7.95 as markets await confirmation that announced migrations have fully settled on-chain.
A break below $7.00 on low volume would weaken the current structure and indicate limited momentum behind the migration narrative.
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.
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