Chainlink Surges Past $21 Amid Whale Accumulation and SWIFT Partnership
Chainlink (LINK) token gains 27% weekly as oracle network positions itself as critical infrastructure for traditional finance integration
Quick overview
- Chainlink's partnership with SWIFT connects over 11,000 institutions to blockchain networks, enhancing traditional banking's integration with blockchain technology.
- Recent demonstrations at Chainlink's SmartCon event showcased the successful use of the Cross-Chain Interoperability Protocol to link SWIFT's messaging system with blockchain networks.
- Technical analysis indicates that LINK has broken out of a declining trend, with potential price targets ranging from $30 to $100 based on market demand and institutional interest.
- Increased whale activity and rising daily active addresses suggest growing institutional and retail interest in Chainlink's services within the DeFi ecosystem.
Chainlink’s LINK/USD strategic relationship with SWIFT is quickly turning the oracle network into a key part of the world’s financial infrastructure. The partnership now links more than 11,000 institutions that are part of SWIFT to both public and private blockchain networks. This is a big step forward in the path of traditional banking to integrate blockchain technology.
Institutional Banking Integration Accelerates Through SWIFT Collaboration
This relationship started in 2016, but it has really picked up speed in the last few months. It recently showed off a proof-of-concept at Chainlink’s SmartCon event. The demonstration used the Cross-Chain Interoperability Protocol (CCIP) to connect SWIFT’s old messaging system to several blockchain networks without any problems. In May 2023, tests with big banks BNY Mellon and BNP Paribas showed that tokenized assets may be moved between different blockchain networks in a practical way.
Chainlink is now collaborating with significant financial institutions like the DTCC, Mastercard, several central banks, and top-tier asset managers, in addition to SWIFT. ICE, the parent company of the NYSE, recently connected its foreign exchange and precious metals data feeds to blockchain apps over Chainlink’s oracle network. This gave tokenized assets and on-chain derivatives access to high-quality financial data.
LINK/USD Technical Analysis Points to Breakout Above Key Resistance Levels
LINK has significant bullish momentum from a technical point of view after breaking out of a declining trendline that has been holding back price activity since December 2024. Before starting its current rally phase, the token successfully retested the $18 support level as a double bottom.
The most important technical change is that LINK seems to have broken out of a symmetrical triangular pattern that has been forming since 2021. If the breakout stays above present levels, this long-term consolidation pattern signals that there is a lot of room for growth. Technical analysts say that $24 is the important resistance level that needs to be held in order for the price to keep going up into the $30 target zone.
Chart patterns show that a long-term move over $24 could speed up the climb toward $30-$35 in the near future. If the overall bullish trend keeps going, the more ambitious targets are $95-$100. The token’s current price of over $21 shows that it has successfully defended critical support levels that were set during the recent rally.
LINK Whale Activity Signals Growing Institutional Interest
There has been a lot more activity from big investors, with whale trades adding up to almost $13 million in recent trading sessions. A significant withdrawal of 510,000 LINK tokens from Binance and other whale addresses buying more are examples of notable accumulation. This buying activity at the institutional level is happening at the same time that the number of daily active addresses is rising, from 5,500 to 9,410. This shows that both retail and institutional investors are getting more involved in the market.
The rise in decentralized exchange volumes, which reached more than $1.298 billion in just 24 hours, shows that more people are using Chainlink’s infrastructure in the DeFi ecosystem. This link between activities implies that LINK’s pricing changes are based on real demand for oracle services, not just speculative trading.
Chainlink Price Prediction: $30-$100 Targets Based on Fundamental Valuation
Market observers, such as well-known crypto researcher Posty, say that LINK is still way too cheap compared to how useful it is and where it is in the market. Chainlink’s market cap is about $15 billion right now, yet its oracle network protects over $59.5 billion in assets. This makes for a very interesting valuation gap.
Conservative price projections put LINK at $30 to $35 in the foreseeable future, based on technical breakout patterns and more institutions using it. More extreme predictions say that the token might reach $95-$100 if it breaks through the $24 resistance level and keeps going up along with the rest of the cryptocurrency market.
The combination of technical breakout signs, announcements of partnerships between institutions, and patterns of whale accumulation makes it likely that prices will keep going up. But investors should keep an eye on the entire market and Ethereum’s success because LINK has typically moved in the same direction as the rest of the crypto industry.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Save