Chainlink Rockets to 7-Month Peak as Wallet Growth Smashes 2025 Records — $30 Target in Sight?
Chainlink's native token defies gravity—hitting its highest price since January 2025 as wallet adoption goes parabolic. The oracle network's resurgence sparks bullish chatter, but can it dodge crypto's classic 'buy the rumor, sell the news' trap?
Wallet boom fuels momentum
Active addresses surge past 2025's previous highs, painting a stark contrast to the 'zombie chain' jabs from skeptics earlier this year. Network growth now outpaces three quarters of top-20 crypto assets—no small feat in a market where most projects peak at their whitepaper.
The $30 question
Traders eye the psychological barrier as LINK's price action mirrors its 2021 bull run. Technicals suggest room to run, but let's be real—in crypto, TA stands for 'Temporary Assurance' until the next whale dump. One thing's certain: the oracle wars just got spicy.
Fundamental drivers behind LINK’s momentum
The rally has been fueled by a number of recent events. The Chainlink Reserve, a smart contract treasury that locks away revenue from enterprise integrations, was launched by Chainlink earlier this month. More than 100,000 tokens have already been absorbed by the mechanism, putting deflationary pressure on the supply in circulation.
Partnerships have been important as well. On Aug. 11, Chainlink and Intercontinental Exchange, the parent company of the New York Stock Exchange, announced an agreement to integrate precious metals and foreign exchange data into Chainlink’s Data Streams product.
Building on past partnerships with the DTCC and SWIFT, this strengthens Chainlink’s position as a LINK between traditional finance and blockchain. Adoption in decentralized finance and real-world asset tokenization has also continued to rise, with Chainlink currently securing over $90 billion in total value across protocols.
In addition, the July signing of the GENIUS Act, which formally recognized oracles as critical infrastructure, and Chainlink’s contribution to Securities and Exchange Commission guidance, have improved sentiment even more.
Chainlink technical analysis
From a technical standpoint. LINK is still in a bullish trend. Most of the moving averages from the 10-day to the 200-day are in favor of buyers, and the moving average convergence divergence is pointing upward.
Meanwhile, momentum indicators such as the relative strength index at 64 and the Stochastic at 87 indicate that the token is approaching overbought territory, suggesting the potential for short-term pullbacks.
If the upward trend persists, LINK will face resistance in the $27.50- to $28.0 range, with $30 serving as the next significant psychological barrier. On the downside, there is stronger support NEAR $21.00, with initial support located around $22.50.
