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.
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