TL;DR
- Chainlink (LINK) rose more than 8.6% in the last trading session and 45% over seven days, with its price hovering around $23.6 after a slight correction.
- Daily trading volume surpassed $1.91 billion, driven by massive purchases; within two days, 510,000 tokens moved from Binance to Compound, and two other addresses acquired nearly 105,000 tokens.
- Companies such as Fidelity, Swift, DTCC, Citi, JPMorgan, and BNP Paribas include LINK in their operations.
Chainlink (LINK) gained more than 8.6% in the last session and 45% over seven days, currently trading close to $23.6 after a minor pullback.
Daily volume reached $1.91 billion, boosted by large purchases from some investors. In just two days, 510,000 tokens moved from Binance to Compound, worth over $11 million. Two additional addresses bought nearly 105,000 tokens, totaling more than $13 million in acquisitions. Active addresses on the network grew from 5,500 to over 9,400 within a week, indicating increased activity from both individual and institutional participants.
Firms like Fidelity, Swift, DTCC, Citi, JPMorgan, and BNP Paribas integrate LINK into their operations, using its infrastructure to bridge traditional currencies with digital assets. Chainlink Reserve’s infrastructure helps increase volume on decentralized exchanges, which reached $1.298 billion in 24 hours.
Technical Analysis: How Far Can Chainlink Go?
From a technical perspective, LINK surpassed $18 after confirming a double bottom and breaking a downtrend that had been in place since December. The next key level stands at $24, with a possibility of reaching $30 in the short term. Some analysts, such as Posty, consider the token undervalued and project it could hit $100. That would imply a market capitalization close to $100 billion, a figure achieved by only a few cryptocurrencies in the market.
The increase in whale accumulation, the growth in network activity, and rising institutional adoption demonstrate clear and sustained interest that could support further price gains. Chainlink’s performance in the coming weeks will be crucial to confirm this trend.
