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- Chainlink, through buybacks, has added more than 43,000 LINK to reserves, boosting market confidence.
- Whales purchased nearly 2 million LINK as Polymarket partnership strengthens outlook.
Chainlink price is holding steady after a recent buyback lifted market sentiment. The cryptocurrency was last seen trading at a major discount of 4.3% dip in the past day, but the token still stands above a key support level.
The combination of the buyback and large investor interest has brought new focus to its price outlook.
Chainlink Buyback Strengthens Market Position
On February 18, Chainlink confirmed it had repurchased 43,067.70 LINK. This lifted its total reserve holdings to 323,116.40 LINK. The buyback, carried out with funds earned both on-chain and through corporate partnerships, shows the project’s intent to tighten supply and build confidence among holders.
The market reacted positively at first, pushing Chainlink above $24 before the latest pullback. Derivatives data continues to show firm interest. According to CoinGlass, the share of bullish bets rose to 50.18% over the past three days, compared with 48.89% earlier in the week.
Similarly, Open Interest has slipped slightly from $1.77 billion to $1.70 billion, but remains elevated after bouncing from a $1.50 billion low at the start of September. On the technical side, Chainlink has found support along a trendline built from its June and August lows. The token is also trading above the $24.35 Fibonacci retracement level.
Based on this outlook, a close above that mark could open the path toward $25.64, with a longer-term ceiling near $30.94. The Relative Strength Index has moved to 56, hinting at growing buying activity, while the MACD indicator points to a neutral stance. As of writing, LINK is down 7.83% in the past week to $23.28.
Still, as reviewed in our recent publication, Chainlink has reached a major milestone as the value locked through its services crossed $100 billion for the first time. The project continues to play a key role in the DeFi market, which has grown strongly in 2025.
Whale Accumulation and New Partnership Add Support
It is worth noting that investor activity has added to the optimistic tone. In the past two days, whales have bought close to 2 million LINK tokens. Large acquisitions of this scale are seen as signals of long-term confidence and are often linked with upcoming price expansions.
Chainlink announced a new partnership with Polymarket. The prediction market platform will use Chainlink’s data standard to ensure accurate price feeds. The integration is live on Polygon and comes as Polymarket reenters the U.S. market, giving the collaboration added importance.
This partnership marks another milestone for Chainlink. As mentioned in our recent news brief, Saudi Awwal Bank chose the Chainlink network to support on-chain applications in Saudi Arabia. In addition, Chainlink also teamed with Solv Protocol to launch a Secure Exchange Rate Feed, adding real-time Proof of Reserve for SolvBTC.
Market participants believe that the whale activity and the Polymarket deal added strength to the outlook. While short-term swings are possible, holding above $22 keeps the recovery in place. Analysts have even suggested a potential rally of up to 184%, which would bring the price closer to $79 if momentum continues.
