Kraken has migrated its wrapped Bitcoin product from LayerZero to Chainlink's Cross-Chain Interoperability Protocol (CCIP), selecting Chainlink as its primary infrastructure for moving assets across blockchains. The move makes Kraken at least the fourth protocol to abandon LayerZero in favor of Chainlink's bridging solution. The migration covers Kraken's wrapped Bitcoin technology, a product that lets Bitcoin move and operate on other blockchain networks.
This is a direct win for Chainlink (LINK) and a reputational blow to LayerZero — when a major exchange like Kraken publicly migrates away from a competitor, it signals institutional preference is consolidating around Chainlink's infrastructure. LINK could see sustained demand as more protocols follow, while LayerZero's native token faces headwinds from eroding credibility. Wrapped Bitcoin products that now run on Chainlink rails also carry different — arguably lower — counterparty risk profiles.
Watch for any LayerZero response or protocol announcements in the coming weeks. Monitor Chainlink's CCIP adoption announcements — each new migration is a potential catalyst for LINK. Also watch for any security audits or incidents on either protocol, as bridge security events move prices fast.
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