Quick Read
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Chainlink surged 18% in 2026 while Bitcoin dropped 3%, powered by connecting 17 major banks including HSBC and Citi to SWIFT’s blockchain ledger.
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CCIP 2.0 launched September 28 and sent LINK up 10% in one day, but selling pressure quickly erased most of those gains.
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Banks using Chainlink’s software don’t share transaction fees with LINK holders, leaving long-term value tied to whether services require LINK for payment or security.
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Chainlink (CRYPTO:LINK) is experiencing an impressive rise of about 18% this year, while major cryptocurrencies are struggling. Bitcoin (CRYPTO:BTC) has dropped around 3%, and XRP (CRYPTO:XRP) has fallen nearly 18%. So, what is Chainlink doing in 2026 that sets it apart from the major players?
As of October 2, 2026, LINK is trading around $14.41, up 80% from its July 4 closing price of $8. In contrast, Ethereum (CRYPTO:ETH) is down about 9% this year, and Solana (CRYPTO:SOL) has dropped nearly 3%. However, Chainlink is still about 36% lower than last year and about 73% below its peak of $52.70.
Chainlink Connects Banks to SWIFT’s Blockchain Ledger
Chainlink operates an oracle network, which is a system that delivers external data—like interest rates and currency prices—to blockchains. It also facilitates communication and value transfers across different blockchains. On September 28, Chainlink announced that its software now connects banks to SWIFT’s blockchain ledger. Swift, a network banks use for cross-border payment messages, opened this ledger for initial use in July.
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Seventeen banks, including major names like HSBC, Citi, UBS, and Wells Fargo, are gearing up to test live transactions on this ledger. Banks typically choose their infrastructure only after thorough approval from their compliance and risk teams. This link to SWIFT, along with Chainlink’s partnership with Infosys covering 1.7 billion bank accounts, provides a strong reason for LINK’s price increase that isn’t dependent on token listings.
