Chainlink (LINK) has surged to its highest level since January 2022, reaching $29.45 on Thursday as demand for the asset from sophisticated investors continues to rise.

The decentralized oracle network posted a 20% gain over the last seven days and a 119% increase over the past month, making it one of the best-performing cryptos in recent weeks, according to CoinGecko data.

The rally comes as LINK’s futures open interest (OI) reached an all-time high of $770.27 million, Glassnode data shows. This figure dwarfed the OI of competitors such as Toncoin (TON) at $259 million and TRON (TRX) at $356 million.

Whale activity has been a key driver of LINK’s price momentum. Trump-backed World Liberty Financial purchased 41,335 LINK tokens worth $1 million at an average price of $24.19, on-chain data shows.

Chainlink’s expanding ecosystem and latest partnerships have been another significant factor. Launching its Cross-Chain Interoperability Protocol (CCIP) on the Ronin network, the feature Go to Source to See Full Article
Author: Vismaya V