Chainlink (LINK) Price: Whales Scoop Up $13M as Token Eyes $30 After Breaking $21

TLDR

• Chainlink (LINK) has surged over 27% in the past week, breaking above $21
• SWIFT partnership now connects 11,000+ financial institutions to blockchains
• Recent whale activity includes $13 million in purchases and a 510,000 LINK withdrawal
• Technical analysis shows breakout from a long-term descending trendline
• $24 identified as key resistance level, with $30-$35 as next potential target

Chainlink has experienced a strong price rally, climbing more than 27% over the past week and breaking through the $21 mark. This upward momentum comes amid growing institutional adoption and increased buying activity from large holders.

The oracle network’s price movement has caught the attention of market participants as it breaks free from a multi-month range. Trading volumes have expanded alongside the price increase, suggesting broad-based participation in the rally.

Chainlink Price on CoinGecko

Chainlink’s integration with SWIFT represents a major step forward for blockchain adoption in traditional finance. The partnership now connects over 11,000 financial institutions to both public and private blockchain networks.

This collaboration positions Chainlink as essential infrastructure in bridging conventional banking systems with blockchain technology. The oracle network serves as the critical link enabling these disparate systems to communicate effectively.

At the recent SmartCon event, Chainlink showcased its Cross-Chain Interoperability Protocol (CCIP). This technology successfully connects SWIFT’s legacy messaging system with multiple blockchain networks.

Major financial institutions including BNY Mellon and BNP Paribas have participated in trials demonstrating the transfer of tokenized assets across different blockchain platforms. These real-world tests highlight the practical applications of Chainlink’s technology.

Institutional Adoption Accelerates

The roster of institutions working with Chainlink continues to grow. New collaborations include the DTCC, Mastercard, and several central banks exploring blockchain integration through Chainlink’s oracle services.

Intercontinental Exchange (ICE), which owns the New York Stock Exchange, has integrated its foreign exchange and precious metals data with Chainlink oracles. This provides high-quality, tamper-proof financial data for decentralized finance applications.

From a technical analysis perspective, LINK has broken out of a long-term descending trendline that had limited price action since December 2024. This breakout followed a double-bottom pattern at the $18 level, which market technicians view as a bullish signal.

Analysts have identified $24 as the key resistance level to watch. If Chainlink can clear this hurdle, it could trigger an accelerated move toward the $30-$35 range.

Whale Activity Signals Confidence

On-chain data reveals substantial buying from large holders, with whales purchasing over $13 million worth of LINK in recent trading sessions. One notable transaction involved a 510,000 LINK withdrawal from Binance to Compound.

The number of daily active addresses has increased from 5,500 to over 9,400. This growth reflects rising participation from both retail investors and institutional players in the Chainlink ecosystem.

Trading volumes on decentralized exchanges have also seen a sharp increase, exceeding $1.29 billion in a 24-hour period. This surge suggests that demand for Chainlink’s oracle services is driving activity beyond mere speculative trading.

Chainlink currently has a market capitalization of approximately $15 billion and secures over $59.5 billion in assets across various blockchain protocols. Some market analysts suggest that LINK remains undervalued based on the network’s utility and growing adoption.

With continued institutional integration and increasing on-chain activity, many market observers believe Chainlink’s price could reach $30 in the near term if current momentum persists.