Chainlink has rolled out support for Coinbase wrapped Bitcoin (cbBTC), allowing users on Monad to seamlessly bridge assets with the Ethereum Layer-2 Base.
The cbBTC currently has over $5 billion in circulation, and Monad’s growing DeFi activity could benefit from such liquidity, according to Keone Hon, Co-Founder and General Manager of Monad Foundation.
Hon added,
“cbBTC adds a major new asset primitive for DeFi builders to design around. Through Chainlink CCIP, Monad developers can now bring Bitcoin-backed liquidity into fast, composable applications while maintaining cross-chain security as the ecosystem scales.”
Chainlink is one of the top oracle providers and has been punching above its weight in the sector, with most of the traction driven by its main bridge, the Cross-Chain Interoperability Protocol (CCIP).
But how big is CCIP, and does its adoption trickle down to Chainlink [LINK] holders?
CCIP is now live across 77 chains and handles over 200 tokens. The protocol first debuted in 2023 and has since rolled out support to major blockchains and sidechains.
Over the period, it has handled nearly $15 billion in Cumulative Transfer Volume.
At the peak of October 2025, the bridge transferred nearly $2 billion in monthly volume.
Although traction declined in late 2025 amid the broader crypto market contraction, the bridge has remained a key lifeline for the oracle provider.
Notably, the bulk of CCIP activity increased in 2025, driving over $1.7 million in total fees for the protocol. And the primary beneficiaries are LINK token holders.
Like most protocols, Chainlink also runs a token accrual program that buys LINK from the market and locks it. The fees generated by CCIP and other revenue streams fund the program, which boasted 2.3 million locked LINK as of press time.
On the price charts, however, LINK has been in lockstep with the broader bearish market sentiment. The altcoin has been consolidating tightly between $8 and $9.5 since February.
In fact, the institutional demand for the altcoin has also remained muted in 2026.
The U.S Spot LINK ETFs saw zero outflows but only $28 million in inflows in the past two months, further straining a strong rebound for the altcoin. If weak demand persists, LINK could be dragged to the lower range of $8.2.
