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Chainlink surges 45% weekly, reaching eight-month high amid Wall Street blockchain integration.
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Chainlink Reserve program buys back tokens, boosting demand and fueling ongoing price rally.
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Tokenized RWA market jumps to $13B, with Chainlink leading in Ethereum oracle dominance.
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LINK eyes $27 target if it breaks $24.45 resistance, maintaining bullish momentum above averages.
As the crypto market gears up for what could be its next major bull run, one asset is quietly positioning itself at the heart of a trillion-dollar shift, Chainlink (LINK). Chainlink’s native token surged to an eight-month high on, extending its weekly gains to 45%.
Despite such a weekly gain, Top crypto analyst Miles Deutscher suggests more gain for Link, citing a growing role in the institutional adoption of blockchain technology.
Why Chainlink (Link) Price is Surging
The biggest reason behind this bullish surge is that Chainlink got a major boost from its new deal with Intercontinental Exchange to bring forex and precious metals pricing data on-chain, a step that strengthens its link between Wall Street and blockchain.
Another big reason is its new “Chainlink Reserve” program will use revenue from services and partnerships to buy LINK, helping keep demand strong.
Adding fuel to the rally, Large holders (whales) have been actively buying LINK. This trend signals strong belief in the token’s potential and adds fuel to the ongoing rally.
Meanwhile, the LINK RSI index is at 52, which is fairly neutral, suggesting more room for the price to climb further.