Chainlink Partnership with US Commerce Department and Caliber Adoption: Implications for LINK Price

Chainlink partners with the US Commerce Department to place official macroeconomic data on-chain, including GDP and PCE index. LINK consolidates near $24 with resistance at $26.60, and traders eye a potential breakout or retracement. Caliber adopts LINK in its new treasury strategy, joining a growing trend of corporate digital asset reserves.

Chainlink, a leading decentralized oracle network, has partnered with the United States Department of Commerce to bring official macroeconomic data on-chain. This collaboration includes key metrics such as Real Gross Domestic Product (GDP) and the Personal Consumption Expenditures (PCE) Price Index [1].

The partnership enables the secure delivery of critical economic data to blockchain ecosystems, enhancing the capabilities of DeFi protocols and other applications. The data, updated monthly or quarterly, is available across ten blockchain networks, including Arbitrum, Avalanche, Ethereum, and others [1].

Meanwhile, the price of LINK, Chainlink's native token, has consolidated near $24, with resistance at $26.60. Traders are closely monitoring the token's price action, anticipating a potential breakout or retracement [2].

In a separate development, Caliber, a Nasdaq-listed real estate-focused asset manager, has adopted LINK in its new Digital Asset Treasury (DAT) Strategy. Caliber plans to hold LINK as part of its equity portfolio and generate yield through staking. This move positions Caliber at the forefront of innovation in the real estate and investment management sectors, reflecting a growing trend among corporate digital asset reserves [2].

References:
[1] https://blog.chain.link/united-states-department-of-commerce-macroeconomic-data/
[2] https://bitcoinist.com/chainlink-link-chosen-for-new-crypto-treasury/