Chainlink Surges Nearly 15% to 7-Month High Amid Wallet Growth
Chainlink (LINK) Update
- LINK increased by nearly 15% in the past week, surpassing resistance between $25 and $26.
- Current trading price is around $24.2, the highest in seven months, supported by strong trading volume and a bullish breakout above the 200-day moving average.
- Whale accumulation has significantly contributed, with large holders acquiring 1.1 million LINK worth approximately $27 million in the last seven days.
- The top 100 wallets increased holdings by over 12%, indicating renewed confidence from institutional investors.
Wallet Growth and Adoption Metrics
- Nearly 9,600 new LINK wallets were created in mid-August, with daily transfers from active addresses exceeding 9,800, both record highs for 2025.
- These metrics indicate healthy adoption, with rising demand from both retail and institutional investors.
- The launch of the Chainlink Reserve, a treasury smart contract absorbing tokens, adds deflationary pressure to circulating supply.
- Chainlink is expanding into the real-world asset sector, introducing ETF and equities data feeds.
- Partnerships with Intercontinental Exchange and SWIFT enhance its institutional relevance.
- Analysts identify $29–$30 as the next major resistance zone, with potential targets extending to $33–$38 or even $57 based on future adoption.