Chainlink (LINK) has surged to an ATH since January 2022, reaching $30.5 today as institutional investor demand for this asset continues to grow.
This leading decentralized oracle network has recorded a 20% increase in the past week and a 120% increase in the past month, becoming one of the most effective cryptocurrencies in recent times, according to data from CoinGecko.
This growth is accompanied by LINK's Futures Contract reaching an ATH Open Interest (OI) of $770.27 million, according to Glassnode. This figure surpasses the OI of competitors such as Toncoin (TON) with $259 million and TRON (TRX) with $356 million.
The activity of whale investors has played a crucial role in LINK's price surge. Specifically, World Liberty Financial, a company advised by the Trump family, yesterday purchased 41,335 LINK tokens worth $1 million, at an average price of $24.19. This morning, they purchased an additional $1 million for 37,052 LINK, at an average price of $27, according to data from Arkham.
The strong development of the Chainlink ecosystem and recent strategic partnerships are also important factors driving its value. The launch of the Cross-Chain Interoperability Protocol (CCIP) on the Ronin network has facilitated the transfer of tokens between the Ethereum, Ronin, and Coinbase's Base blockchains.
Emirates NBD, one of the leading banks in the UAE, has partnered with Chainlink to enhance its digital asset tokenization capabilities. Similarly, Coinbase's Diamond Project has integrated Chainlink to provide infrastructure for token asset management.
Additionally, the collaboration between Chainlink and SWIFT has brought payment solutions for institutions, while WLFI has chosen Chainlink's standard for on-chain data security and cross-chain connectivity.
"Chainlink, closely tied to Ethereum, is one of the pioneers in the ability to interact between blockchains," said Arthur Azizov, CEO of B2BINPAY. "Specifically, it tops the list of the top 10 ERC-20 crypto projects in terms of developer activity in the past 30 days."
Furthermore, Chainlink, along with 21Shares, is launching a tokenized securities trading and settlement service in the EU, according to Azizov.
Check LINK price here.
Disclaimer: This article is for informational purposes only and not investment advice. Investors should do their own research before making decisions. We are not responsible for your investment decisions.
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Thạch Sanh
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