Chainlink (LINK) has rallied nearly 15% over the past week, reaching levels not seen in seven months. The cryptocurrency is currently trading around $24.2, following a breakout above the $25–$26 resistance zone. Strong trading volume and a move past the 200-day moving average have reinforced bullish momentum.Whale activity has been a major driver of the rally. On-chain data shows large holders accumulated 1.1 million LINK worth approximately $27 million in the past seven days. The top 100 wallets increased their holdings by over 12%, highlighting renewed confidence from both institutional investors and high-net-worth players.
Wallet Growth Hits Record Levels in 2025
In addition to whale activity, organic network growth has surged. Analytics firm Santiment reported nearly 9,600 new LINK wallets created in mid-August, setting a 2025 high. Daily transfers from active addresses also surpassed 9,800, another record.
Wallet creation and transaction spikes are often seen as signs of strong adoption. For Chainlink, this growth signals increasing demand from both retail and institutional participants, laying the foundation for sustainable price action.
The momentum comes as Chainlink launched the Chainlink Reserve, a smart contract treasury designed to absorb tokens from enterprise integrations. This move introduces deflationary pressure on the circulating supply, which may further support long-term bullish trends.
RWA Expansion and Institutional Partnerships
Chainlink’s growing influence in the real-world asset (RWA) sector is also fueling optimism. The project recently introduced new ETF and equities data feeds, strengthening its role as a bridge between traditional finance and blockchain.
Strategic partnerships with major financial institutions, including Intercontinental Exchange and SWIFT, continue to solidify its relevance in institutional adoption.
Analysts now view the $29–$30 range as the next key resistance level. While a retest of $20 remains possible if sentiment shifts, many traders believe the current momentum will sustain. Some forecasts extend mid-term targets to $33–$38, while long-term projections suggest LINK could potentially climb above $57 if adoption accelerates.
As Chainlink cements its position as the leading decentralized oracle provider, the critical question remains: Is $30 just the start of LINK’s next major bull run?
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