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- Large investors are buying up Chainlink, and traders are betting more, pushing the token higher.
- Chainlink is working with big names like Visa and JPMorgan, showing its tech is gaining ground in real finance.
Chainlink (LINK) is showing unusual strength in the crypto market. The token jumped past $26 on August 18, its highest level in seven months, before easing to $24.71. In the last month, LINK price has gained more than 30%. It also stood out as the only top 15 cryptocurrency by market size to post gains in the last 24 hours, a sign of resilience in a mixed market.
Whales and Traders Fuel the Chainlink Rally
According to market trends, much of the recent push came from whale activities and rising market bets. Large holders have been pulling millions in LINK out of exchanges.
Data from Lookonchain showed one wallet took out about 1.29 million LINK, worth $31 million, from Binance across four days. These withdrawals often suggest accumulation rather than plans to sell, which can tighten supply and lift confidence.
Trading on derivatives platforms has also picked up sharply. CoinGlass reported open interest in LINK futures at a record $1.5 billion, up nearly 60% since January. A climb in open interest is widely seen as traders putting more money on the table, reflecting strong belief in the token’s direction.
The latest trend has seen LINK price hit $26.13, up 6.43% in 24 hours. The token jumped as high as 12% over the past week.
On-chain activity has been just as busy. According to Santiment, 9,813 addresses moved LINK on August 17. The following day, more than 9,600 new wallets were created, marking the busiest stretch of the year for the network. This combination of whale moves, trader confidence, and new wallets points to a broad base of activity behind the rally.
In line with the recent update, CNF reported Chainlink scored 237.93 in RWA development, LINK surged 24% monthly, hitting the $24 mark. In addition, as featured in our recent coverage, Chainlink partnered with Intercontinental Exchange to put currency and precious metals prices from 300-plus markets on blockchain networks.
Chainlink Expands in Traditional Finance
Meanwhile, Chainlink has been making progress outside crypto trading. More than 30 major financial institutions are now testing or piloting solutions powered by its technology, according to community liaison Zach Rynes.
The list includes Swift, Visa, Mastercard, Citi, JPMorgan, BNY Mellon, and Fidelity. Infrastructure players such as ICE, Euroclear, and Clearstream are also involved, alongside central banks and lenders in Brazil, Europe, and Asia.
Essentially, these projects place Chainlink in a strong position as a link between decentralized finance and traditional markets. The network’s role in providing reliable data feeds and connections gives it an edge as more institutions look at blockchain for real-world use.
Social data shows the rally is also catching attention outside trading circles. Analytics platform LunarCrush said LINK’s share of crypto social activity has reached its highest point in a year, even as hundreds of new tokens have entered the market.
With whales building positions, traders showing confidence, and institutions expanding adoption, Chainlink appears set to remain one of the stronger tokens in the coming quarter.
Furthermore, in its bid to sustain growth, the Oracle network is diversifying its portfolio. As indicated in our earlier discussion, Chainlink announced plans to create a LINK token reserve funded by on-chain and enterprise revenue to support the network’s long-term development.
