tl;dr
Chainlink (LINK) has surged above $24, rising nearly 45% this week due to increased on-chain activity and positive investor sentiment. Active LINK addresses hit an eight-month high, with significant whale transactions recorded. Social sentiment is strongly bullish, with more positive than negative c...
Chainlink (LINK) has surged above $24, rallying nearly 45% this week amid increased on-chain activity and growing optimism among investors. Crypto analytics firm Santiment highlighted an eight-month high of 6,463 active LINK addresses, alongside 4,624 whale transactions exceeding $100,000—the most significant volume seen in seven months. Social sentiment has also turned strongly bullish, with a ratio of 3.3 positive comments for every bearish one, indicating a surge in confidence comparable to levels last seen in February.
Adding to the bullish outlook, around 2 million LINK tokens have been withdrawn from exchanges in the last 48 hours, a move often interpreted as investors shifting assets to long-term storage, thus potentially curbing immediate selling pressure. While LINK remains over 50% below its May 2021 peak, many experts believe the asset is primed for further growth. Crypto trader “Johnny” suggests LINK is “ready for round 2,” and analyst Miles Deutscher calls it the “most obvious large-cap play” in the current cycle.
On the innovation front, Chainlink has unveiled Data Streams for US equities and ETFs, aiming to bridge the gap between traditional finance and decentralized finance. This new product offers real-time pricing data for major assets like CRCL, QQQ, NVDA, and MSFT across 37 blockchain networks. Developers can leverage this live, contextual market data to fuel tokenized stock trading, perpetual futures, and synthetic ETFs, expanding the possibilities for integrating Wall Street securities into blockchain ecosystems.