- Chainlink surged 44% in a week, attracting trader attention for a potential second rally.
- Strategic partnerships and tokenization trends could fuel further gains.
Chainlink (LINK) has returned to the spotlight with a 44% surge over the past week, drawing attention from crypto traders and analysts alike. After hitting $24.60, traders like Johnny, who has over 860,000 followers on X, noted that LINK seems poised for a “round 2” rally, calling it the “most obvious large-cap play” many investors may overlook.
According to Santiment, Chainlink is currently experiencing its “highest level of bullishness” since February, signaling renewed investor interest. Over the past 30 days, LINK has risen 54%, trading around $24 at the time of publication. Analysts suggest that a further 6.2% increase to $25.50 could put roughly $61 million in short positions at risk of liquidation, highlighting the potential for further upward pressure.
Challenges on the Road to All-Time Highs
Despite its recent gains, Chainlink remains 55% below its May 2021 all-time high of $52.88. Other top cryptocurrencies, including Stellar (XLM), Hedera (HBAR), and Litecoin (LTC), also struggle to reclaim their previous peak levels. Many traders appear to be waiting for these popular coins to revisit their all-time highs before exiting at breakeven.
Still, experts are optimistic about LINK’s potential. Crypto trader Miles Deutscher emphasized that Chainlink is well-positioned to benefit from the ongoing institutionalization of crypto, alongside the rapid growth of stablecoins, tokenization, and real-world assets (RWAs).
Strategic Partnerships Fuel Growth
Chainlink’s recent developments underscore its long-term potential. The platform recently partnered with Intercontinental Exchange (ICE), a Fortune 500 company, to bring foreign exchange and precious metals data on-chain. Chainlink co-founder Sergey Nazarov highlighted that asset tokenization could accelerate capital flow across traditional markets, boosting liquidity in treasuries, equities, private credit, commercial debt, and real estate.
As investors increasingly focus on these fundamental developments, Chainlink’s bullish setup and strategic partnerships make it a coin to watch closely in the coming months.
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