Chainlink’s native token (LINK) surged 10% on Tuesday, reaching a fresh seven-month high and extending its seven-day rally to 42%, outpacing most top 50 cryptocurrencies. The rally was propelled by two primary catalysts: a strategic partnership with Intercontinental Exchange (ICE) to on-chain price foreign exchange and precious metal data, and the launch of the Chainlink Reserve buyback program.
The ICE collaboration positions Chainlink as a conduit between traditional financial markets and blockchain ecosystems, enabling real-time FX and commodity data on decentralized finance applications. This move underscores growing institutional confidence in blockchain oracles to deliver reliable, high-integrity price feeds for enterprise use cases.
Meanwhile, the Chainlink Reserve initiative, announced via a company blog post, allocates a portion of revenue generated by Chainlink services toward token repurchases. This mechanism aims to create persistent buying pressure, bolstering tokenomics and reducing circulating supply over time, which can accentuate price momentum during bullish market phases.
Technical analysis from CoinDesk Analytics indicates LINK trading above both its 50-day and 200-day moving averages, confirming the strength of the uptrend. On-chain data revealed record volume spikes and substantial whale accumulation, with net inflows to leading exchange wallets hitting multi-month highs prior to the price breakout.
Short-term resistance lies near $24.10–$24.13, a critical border to clear for the next leg higher. Support is observed around $21.00–$21.30, where previous consolidation formed a base. The relative strength index approaching overbought territory suggests potential consolidation or minor pullbacks ahead of any decisive breakout.
Analysts note that the dual impact of traditional finance partnerships and buyback schemes can amplify network credibility and market confidence. LINK’s performance may serve as a bellwether for other oracles and DeFi-adjacent tokens as institutional integrations accelerate in the second half of 2025.
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