Chainlink, the leading blockchain oracle, has witnessed a remarkable price rally. Its price hit a high of $30, the loftiest since November 2021, and has surged over 270% from September’s nadir.
The coin’s ascent is attributed to multiple favorable factors. World Liberty Finance, associated with Donald Trump, chose Chainlink as its oracle and acquired a significant number of LINK tokens worth over $2.3 million.
Hedera Hashgraph, a popular layer-1 network, also opted for Chainlink’s oracle services to boost its DeFi and real-world asset tokenization.
Moreover, Chainlink’s collaboration with Swift, a major global payment network handling vast annual transactions, aims to enhance cross-chain interoperability for global cash transfers. Recent months have seen Chainlink secure partnerships with Emirates NBD, Coinbase, and UBS. Its market share is expanding, with the network’s secured value exceeding $40 billion.
Additionally, data reveals a reduction in exchange-held tokens and a sharp increase in the number of LINK token holders. Technically, LINK has broken key resistance levels and is trading above crucial moving averages, with a bullish Relative Strength Index. There’s speculation it could surge 80% to its all-time high of $54.
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