Chainlink (LINK) Jumps 14% to $19 as Token Reserve News Sparks Bullish Rally
Chainlink's LINK token surged 14.35% to $19.04 after the protocol announced a new token reserve funded by protocol revenue. This development highlights growing confidence in Chainlink's revenue potential and long-term sustainability.
Technical indicators point to possible upside, with the RSI at 62.20 showing neutral momentum. The token reserve news triggered an immediate 8% price jump on August 7, adding to recent positive developments like the launch of Data Streams for U.S. equities and ETFs.
Market analysts note the strategic timing of these announcements, aligning with both broader crypto market recovery and rising institutional demand for oracle solutions. The series of positive updates has created a compounding effect on market sentiment.
