The Chainlink network has seen a surge in interest from institutional investors such as DTCC and SWIFT, who are looking to leverage its reliable web3 solutions like CCIP. Whale investors have recently accumulated over 10 million LINK tokens, valued at more than $120 million, in the past two weeks, boosting its bullish recovery.
Chainlink (LINK) is a respected smart contract chain with multi-chain capabilities, poised to facilitate the widespread adoption of digital assets and web3 projects. Co-founder Sergey Nazarov stated that more institutional investors are utilizing the Chainlink network to tokenize real-world assets (RWAs).
The Chainlink ecosystem has expanded to become a vibrant web3 community supported by reputable investors. To meet the evolving needs of the web3 space, Chainlink’s core developers are building the necessary infrastructure for seamless adoption of digital assets and smart contracts.
Strategic partnerships with institutional investors like Circle, DTCC, and Swift have been forged by the Chainlink network. Recently, collaborations with Fidelity International and Sygnum were announced to bring Net Asset Value (NAV) data on-chain.
Following a period of crypto capitulation triggered by significant Bitcoin sales by the German government, there has been a rebound in the fear and greed index. Long-term holders have capitalized on discounted crypto prices to accumulate more digital assets. Chainlink holders with over 10,000 units added over 10 million LINK tokens worth more than $120 million in the last two weeks.
The current LINK price stands at around $13.83, with a 5% rally in the past 24 hours. However, the altcoin’s downward trend may persist unless it consistently closes above the $18 support/resistance level. The LINK price could potentially drop towards $10 if this level is not maintained.
Despite challenges, the LINK price could reach its all-time high if long-term buyers continue to accumulate amidst ongoing macro consolidation.