#Chainlink ($LINK ) has surged 36% this week, breaking its multi-year $21 resistance and setting up for a potential run toward $50 and beyond. The breakout is supported by whale accumulation, protocol buybacks, and expanding partnerships with major global financial institutions.
On-chain data shows wallets holding 100K–1M $LINK grew by 4.2% in August, adding 0.67% of the circulating supply. Exchange reserves dropped to 273M LINK, easing sell pressure. The new Chainlink Treasury Reserve has converted over $1M in enterprise revenue to LINK since August 7 — tokens that will not be reintroduced into the market.
Technically, LINK is now trading above all major EMAs after clearing $21, a level that has capped rallies since 2021. Historical patterns from this breakout zone previously fueled rallies to all-time highs. The chart has also formed a double bottom, similar to the previous setup that triggered a strong pump, putting $31 and $36 in focus.
Beyond price action, Chainlink’s institutional footprint continues to expand. Partnerships span Fidelity, Swift, DTCC, Citi, JPMorgan, BNP Paribas, and UBS, covering tokenized asset settlement, CBDC pilots, AI-driven market oracles, and cross-border payments and many others. These integrations position $LINK at the center of the growing tokenization market, where transaction volumes are projected to surge.
With whales tightening supply, buybacks adding consistent demand, and Wall Street building on its infrastructure, LINK’s breakout is backed by both technical and fundamental strength. Maintaining $21 as support could keep momentum intact toward a full retest of previous highs.
