- Chainlink’s native token, LINK, has surged to a three-year high of $29.45, driven by record-breaking futures open interest of $770.27 million.
- Additionally, strong whale activity and significant partnerships have fueled this positive rally.
Chainlink, popularly known for its Oracle network has captured center stage with its impressive surge which has set a significant milestone in its trajectory. Yesterday saw Chainlink’s native token, LINK attained a three-year high reaching $29.45.
LINK has experienced significant upward momentum since the inception of the bullish cycle. Admirably, LINK’s upward momentum hasn’t ceased even after Bitcoin and most of the cryptocurrencies recorded price declines. At the time of press, this digital asset is swapping hands with $28.73 marking a 21.13% and 117.60% in the past week and month respectively.
Additionally, LINK’s market cap has witnessed a slight decline of 0.55% stopping at $18.12B. This metrics, have positioned LINK as one of the top-performing crypto assets in recent weeks.
Chainlink Futures Open Interest Reaches All-Time High
This success can be credited to a number of factors, but the most significant was the major achievement made on futures open interest. Data from Glassnode has revealed that LINK has hit a record-breaking futures open interest (OI), which reached an all-time high of $770.27 million. Notably, this surpasses competitors such as Toncoin (TON) at $259 million and TRON (TRX) at $356 million, highlighting the growing confidence in Chainlink among sophisticated investors.
Moreso, LINK’s upward trajectory has also gotten a backing from recent whale activity. On chain data has put to light that World Liberty Financial, a decentralized finance (DeFi) project backed by former U.S. President Donald Trump, purchased 41,335 LINK tokens worth $1 million at an average price of $24.19.
In the same vein, WLFI and Chainlink have another entanglement in where, World Liberty Financial (WLFI) has adopted Chainlink as the standard for onchain data and cross-chain interoperability to help secure the WLFI Protocol ecosystem. This integration will enable WLFI to access real-world data and leverage the security and reliability of Chainlink’s oracle network.
Expanding Ecosystem and Strategic Partnerships
Chainlink’s ongoing expansion and strategic partnerships have further fueled its growth. The launch of the Cross-Chain Interoperability Protocol (CCIP) on the Ronin network enables seamless token transfers between Ethereum, Ronin, and Coinbase’s Base blockchain. This innovation strengthens Chainlink’s reputation as a leader in blockchain interoperability.
Additionally, Chainlink’s collaboration with SWIFT introduced an institutional payment solution, while Coinbase’s Project Diamond integrated Chainlink’s infrastructure for tokenized asset management. Emirates NBD, one of the largest banks in the UAE, also partnered with Chainlink to enhance digital asset tokenization capabilities.
Arthur Azizov, CEO of B2BINPAY, noted that Chainlink is closely tied to Ethereum and leads the top 10 ERC-20 crypto projects in developer activity over the past 30 days. This strong developer engagement underscores Chainlink’s robust ecosystem and innovative edge.
Additionally, Chainlink’s collaboration with 21Shares to launch an EU-regulated service for trading and settling tokenized securities demonstrates its growing appeal to institutional investors. By providing secure on-chain data and cross-chain connectivity, Chainlink is establishing itself as the backbone of blockchain interoperability.
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