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- Whale and institutional interest, including record Open Interest of $770M, are driving LINK’s rally and solidifying its market confidence.
- Breaking the $29.50 resistance could lead to significant price increases, with analysts predicting potential highs of $35 to $52.50 amidst volatility.
Chainlink (LINK) is garnering significant interest from whales and institutions, driving a sharp price surge. Notably, Trump’s World Liberty Financial purchased 41,335 LINK tokens worth $1 million at an average price of $24.19, as reported by blockchain tracker Eyesonchain.
Additionally, another whale acquired 175,424 LINK using 1,263 ETH valued at $4.95 million, with an average price of $28.18, highlighting intensified large-scale accumulation within just 12 hours. At the time of writing, Chainlink (LINK) is trading at $28.62, reflecting a 0.23% decrease in the past day but a 19.55% surge over the past week.
LINK Hits Record Open Interest Levels
As previously highlighted by CNF, Coinbase recently integrated Chainlink CCIP for seamless cross-chain token management. Meanwhile, Chainlink’s Open Interest (OI) reached an unprecedented $770.27 million, according to Glassnode, alongside a price surge to $28.23—its highest in two years.
Trading volume also spiked by 65% within 24 hours, showcasing increased market activity and trader confidence.
This surge underscores LINK’s growing appeal, fueled by heightened whale and institutional participation.
Potential for New Highs Amid Strong Resistance
Despite facing resistance at $29, LINK demonstrates potential for further growth. Analysts suggest that breaking the $29.50 mark could trigger a 20% rise to $35 and possibly an 80% rally to its all-time high of $52.50.
However, traders should remain cautious of potential short-term corrections, as LINK’s price is extended across multiple time frames. Such volatility could provide additional opportunities within its bullish trajectory.
