Hedera integrates Chainlink oracle for cross-chain interoperability
Hedera has officially integrated Chainlink’s Cross-Chain Interoperability Protocol on its mainnet, enabling dApps that work across multiple blockchains.
Following the integration, Hedera (HBAR) developers can now transfer tokens, send messages, and initiate actions between Hedera and more than 46 other blockchain networks, as per the official announcement made on Apr. 8.
CCIP is powered by Chainlink’s oracle technology, which enables safe and secure communication between blockchains. The oracle secures more than $20 trillion in on-chain value, with support for well-known decentralized finance platforms like Aave (AAVE) and Lido DAO (LDO)
This update builds on a partnership that started last year when the HBAR Foundation joined Chainlink’s SCALE program, a move that brought Chainlink’s price feeds and proof-of-reserve services to Hedera.
Now, with CCIP live, developers can take advantage of full cross-chain features and new tools like the Cross-Chain Token standard. CCT lets projects issue tokens that can move easily between chains while keeping control of their token contracts.
Despite recent developments in real-world assets and DeFi, Hedera’s total value locked has dropped, falling from a peak of $213 million in January to $74 million as of Apr. 9. On the bright side, the volume of stablecoins on Hedera has more than doubled this year, from $38 million in January to $82 million, as per DeFiLlama data
HBAR token, which powers the Hedera network, is trading at about $0.1536 at press time, with a market capitalization of $6.4 billion. The price has corrected after a notable spike in late 2024, when it increased 367% in Q4 to a high of $0.27.Â
It is now trading 73.20% below its all-time high of $0.567, which was attained on September 2021. Despite the significant drop in HBAR’s price, analysts believe that recent partnerships and wider cross-chain integration will boost its price when market conditions improve.
