Chainlink (LINK) has surged over 27% in the past week, breaking above $21, as institutional adoption and whale accumulation fuel bullish momentum.
The oracle network’s deepening partnership with SWIFT now connects more than 11,000 financial institutions to both public and private blockchains, positioning Chainlink as critical infrastructure in the transition from traditional banking to blockchain integration.
Institutional Adoption and DeFi Integration Accelerate Chainlink’s (LINK) Ascent
At Chainlink’s recent SmartCon event, the network showcased its Cross-Chain Interoperability Protocol (CCIP), successfully linking SWIFT’s legacy messaging system with multiple blockchain networks.
Trials with major banks, including BNY Mellon and BNP Paribas, demonstrated the real-world potential for moving tokenized assets seamlessly across different chains.
The institutional roster continues to expand with collaborations involving the DTCC, Mastercard, and several central banks.
Intercontinental Exchange (ICE), parent company of the NYSE, recently integrated its forex and precious metals data with Chainlink oracles, providing high-quality, tamper-proof financial data for DeFi applications.
Technical Breakout Puts $30 in Sight
From a technical perspective, LINK has broken out of a long-term descending trendline that has capped price action since December 2024. The move followed a double-bottom retest at the $18 level, signaling a shift in momentum.
Analysts highlight $24 as the key resistance to watch, clearing it could trigger an accelerated move toward $30–$35. More aggressive projections point to $95–$100 if LINK sustains the breakout from its multi-year symmetrical triangle pattern formed since 2021.
Currently trading above $21, LINK has defended critical support levels established during the recent rally, maintaining its bullish structure.
Whale Accumulation Signals Confidence
On-chain data shows whales have purchased over $13 million worth of LINK in recent sessions, including a notable 510,000 LINK withdrawal from Binance to Compound. The number of daily active addresses has jumped from 5,500 to over 9,400, reflecting growing participation from both retail and institutional players.
Decentralized exchange volumes have also spiked, surpassing $1.29 billion in 24 hours, suggesting that demand for Chainlink’s oracle services is driving activity beyond speculative trading.
With a $15 billion market cap securing over $59.5 billion in assets, analysts argue LINK remains undervalued. If the bullish trend continues and institutional adoption deepens, a rally toward $30, and possibly far beyond, appears increasingly plausible.
Cover image from ChatGPT, LINKUSD chart from Tradingview
