Chainlink’s cryptocurrency, LINK, has reached its highest value in seven months, driven by significant accumulation by large investors and a series of new partnerships with institutions. As per data from CryptoSlate, LINK’s price surged above $26 on Aug. 18 after a month-long rally of about 30%, subsequently stabilizing at $24.71. Notably, LINK was the only top 15 cryptocurrency to show a positive price trend within the last 24 hours. One key factor fueling LINK’s rise is the increased activity in the derivatives market. Data from CoinGlass indicates that the open interest in LINK futures has soared to an all-time high of $1.5 billion, marking a nearly 60% surge since the beginning of 2025. A rise in open interest is generally interpreted as a positive signal, indicating traders’ confidence in the asset’s future performance. Moreover, on-chain data reveals a similar trend of market enthusiasm. Santiment’s data shows that on Aug. 17 alone, nearly 9,813 addresses were involved in LINK transfers, with over 9,600 new wallets created the following day. This heightened engagement signifies a growing user base in tandem with the upward momentum in LINK’s price. Concurrently, the actions of significant investors, or whales, have further bolstered the optimistic sentiment around LINK. Lookonchain reported that a whale wallet withdrew approximately 1.29 million LINK, valued at $31 million, from Binance over a four-day period. Such substantial movements are often indicative of a long-term investment strategy, reinforcing the belief that LINK investors are committed for the long run. Furthermore, besides these pivotal indicators, Chainlink is making strides in penetrating traditional finance through various high-profile partnerships. Notably, on Aug. 18, Zach Rynes, Chainlink’s community liaison, highlighted that more than 30 companies are either testing or implementing the blockchain network’s solutions on their platforms. These collaborations include major financial institutions such as Swift, Visa, Mastercard, and JPMorgan, along with infrastructure giants like ICE and Clearstream, signaling Chainlink’s growing role in global market connectivity. In conclusion, Chainlink’s recent surge in value, supported by whale activity and institutional partnerships, underscores its growing prominence in the cryptocurrency market and traditional finance sector.
Chainlink Surges to 7-Month High Amidst Whale Activity and Institutional Partnerships
