Chainlink’s new runtime environment (CRE) enhances Web3 development flexibility and positions Chainlink as a central player in cross-chain innovation. Analysts expect further price momentum as LINK’s growth potential increases with the development of CRE and strategic partnership with Hedera.
Following the announcement of Chainlink’s new privacy-focused identity solution for Web3, as reported in a recent CNF update, Chainlink announced a major upgrade with the launch of Chainlink Runtime Environment (CRE).
This new development aims to extend Chainlink’s capabilities across the blockchain’s extensive network and marks the transition to a modular, developer-centric platform designed to meet the evolving demands of Web3. I will.
CRE: A game changer for Web3 development
CRE leverages the Decentralized Oracle Network (DON) to enhance data security and reliability, which is essential for secure and efficient cross-chain applications. The Chainlink Runtime Environment (CRE) brings a new level of flexibility to developers, allowing them to create and run customized workflows that go beyond the limitations of a single chain.
This gradual rollout enables uninterrupted service and scalability across multiple workflows, making the Chainlink network more adaptable and resilient. This platform upgrade will be rolled out in phases, starting with migrating services such as Cross-Chain Interoperability Protocol (CCIP) to CRE.
LINK token gains momentum amid expansion
Adding further value to these advances is Chainlink’s recent partnership with the HBAR Foundation on Hedera, strengthening its position in decentralized finance (DeFi). This collaboration integrates Chainlink’s data feeds and CCIP with Hedera to support reliable data access and interoperability for decentralized applications.
Following the announcement, Chainlink’s native token, LINK, soared 6%, reflecting growing enthusiasm for the platform’s new features and increasing potential for cross-chain adoption. Market analysts suggest that if LINK maintains its momentum, it could rise further and target the $15 mark.
Chainlink’s CRE deployment and expanding partnership network highlight the company’s commitment to driving cross-chain adoption and increasing LINK’s market appeal across the blockchain ecosystem.
As previously reported by CNF, research has revealed that a significant amount of LINK has been withdrawn from exchanges over the past 30 days, with 667,290 LINK withdrawn in the last week alone. At the time of writing, Chainlink (LINK) is trading at $12.33, up 5.28% over the past day and up 7.57% over the past week.
