- LINK, Chainlink’s native token, has stayed relatively stable between $12 and $16 in recent weeks, as bullish bets continue to build in derivatives markets.
- Chainlink is shifting from a DeFi mainstay to a vital layer of global crypto infrastructure, connecting data, assets, and networks.
Chainlink’s (LINK) derivatives market is heating up. This is a sign that traders are increasingly confident in the token’s near-term outlook. Over the past day, LINK saw $907.35 million in derivatives trading volume, a jump of over 55.6%, as more investors bet on its movements. Open interest also climbed by about 13.1%, now sitting at $643.3 million, showing sustained appetite in the futures market.
The 24-hour long/short ratio stands at 1.0321, indicating a slight edge toward long positions over shorts, a subtle hint that traders are leaning a bit bullish. In short, optimism is outweighing pessimism, but only just. Chainlink’s current price sits at $14.54, up 0.79% in the past hour, 6.79% over 24 hours, and 2.80% in the last week. The market cap is approximately $9.56 billion, with a daily trading volume of $321.7 million.
If upward momentum holds, LINK could revisit its May 29 high of $16 and potentially challenge its weekly resistance at $19. On the flip side, a pullback could push the price down toward the support level at $12. LINK’s Relative Strength Index (RSI )is at 47.96, comfortably within the neutral zone, suggesting neither an overbought nor oversold condition, and hinting the current trend could persist in either direction before momentum shifts.
Derivatives metrics are flashing excitement: surging volumes, rising open interest, and a mild long bias point to growing confidence in LINK.
Development Activity
Chainlink’s price action isn’t just market noise. It’s being powered by tangible progress in the project’s global adoption. One catalyst? Chainlink is a part of Hong Kong’s digital currency future. The platform is helping facilitate secure exchanges between the Hong Kong Central Bank Digital Currency (e-HKD) and an Australian dollar stablecoin as part of Phase 2 of Hong Kong’s e-HKD+ Pilot Program.
Led by the Hong Kong Monetary Authority (HKMA), this aims to modernize cross-border payments by leveraging blockchain and digital currencies. In this phase, the spotlight is on Chainlink’s Cross-Chain Interoperability Protocol (CCIP). As mentioned in our previous news brief, this is a tool designed to connect different blockchains and make global money transfers faster, cheaper, and more securely.
Chainlink is also providing compliance tools through its Chainlink Compliance Services and Cross-Chain Identity (CCID) modules. These solutions allow on-chain verification of identities from off-chain registries, adding an essential layer of trust. Key players in this effort include Visa, ANZ Bank, China AMC, and Fidelity International.
Chainlink’s influence isn’t limited to Hong Kong. It recently joined the Global Synchronizer Foundation (GSF), the group behind the Canton Network’s interoperability layer. As we explained, this move puts Chainlink in a position to help shape global standards for blockchain connectivity across large institutions.
On the development front, Chainlink was listed among the top six Ethereum-based projects in terms of active development. That’s not all. Last month, on the 19th, Chainlink rolled out new integrations across six services and 16 different blockchains, including names like Ethereum (ETH), Solana (SOL), Binance Smart Chain (BSC), Polygon, Avalanche (AVAX), Arbitrum (ARB), and ZKsync. All of these are now connected through CCIP, a huge leap forward for blockchain interoperability.
