Chainlink's LINK token is rising amid a relatively quiet day for crypto markets, driven by a series of positive developments. With U.S. financial markets closed for Memorial Day, LINK has emerged as the top performer among the top 40 cryptocurrencies, climbing over 10% in the past day to trade at $18.75, according to CoinGecko data.

LINK is the native token of Chainlink, an oracle project on Ethereum that facilitates secure data exchange in and out of blockchains and across different chains. The recent surge is likely due to the announcement that Chainlink will co-present with international payments platform Swift at the Consensys conference in Austin, Texas. This collaboration, which began last fall, demonstrated that existing financial infrastructure can integrate with blockchain technology.

Additionally, Chainlink has been making significant progress, as highlighted by the crypto investment firm 21Shares in their latest weekly research newsletter. They noted Chainlink's role in revolutionizing tokenization, enabling over $10 trillion in transactions across more than 2,000 projects on 22 different networks.

Despite this renewed interest and optimism, LINK still has a substantial way to go, needing a more than 64% increase to reach its all-time high of $52.70 set in 2021.