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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.