- Chainlink has dropped 26% from its May high despite forming major partnerships with Mastercard, Uniswap, and others.
- On-chain data shows reduced exchange balances and stronger investor holding, suggesting potential for a future rebound.
Chainlink’s price has been on a downward trend, but on-chain metrics and strategic alliances suggest the story isn’t all bearish.
Chainlink Price Sends Conflicting Signals
Chainlink (LINK), currently priced at $13.12, has dropped 26% from its May high and sits 57% lower than its November peak. Despite this steep decline, Chainlink has been actively expanding its ecosystem. A recent partnership with Mastercard aims to simplify crypto purchases by integrating Chainlink’s verification tools. Other major partners in this initiative include Shift4 Payments and Uniswap.
Additionally, Chainlink is strengthening its presence in the stablecoin sector through its Proof of Reserve solution, helping companies maintain transparent data reporting. The project’s growing list of partners includes JPMorgan, UBS, Swift Network, and ANZ Bank. On July 2, Chainlink announced a new collaboration with Aktionariat, a Swiss tokenization platform with over 300,000 investors, utilizing Chainlink’s Cross-Chain Interoperability Protocol.
Aktionariat (@aktionariat), an equity tokenization platform operating under Swiss law with 30,000+ registered investors and 70+ onboarded companies, has integrated Chainlink CCIP to enable secure, cross-chain treasury accounts.
Via CCIP, users can now leverage synchronized… pic.twitter.com/s4sWzgY8vB
— Chainlink (@chainlink) July 1, 2025
On-Chain Metrics Show Strength
Despite the price decline, on-chain indicators paint a more optimistic picture. According to Santiment, the number of LINK tokens held on exchanges dropped from 212 million to 208 million over the past month. This decrease suggests reduced selling pressure.
Moreover, the Mean Dollar Invested Age (MDIA) — a metric showing how long tokens remain in wallets — rose from 110 in April to 129.5, indicating that long-term holders are not selling. Such trends usually hint at growing investor confidence.
Technical Outlook Remains Unclear
From a technical standpoint, Chainlink’s price action is giving off mixed signals. A bullish double-bottom pattern has emerged at $10.90, suggesting a potential breakout toward $17.90 or even $20. However, the price remains below both the 50-day and 100-day Exponential Moving Averages, and an inverse cup-and-handle pattern is also forming — typically a bearish sign. If the token falls below $10.91, a further dip toward $10 could occur.
Chainlink’s recent dip doesn’t reflect its growing utility and strengthening fundamentals. While the charts are inconclusive, long-term indicators and strategic partnerships might help LINK rebound — if it can hold above the crucial $10.91 support level.
ALSO READ:Chainlink Records $54.8M in Whale Transactions as Market Dips
DISCLAIMER:
The views and opinions expressed herein are solely those of the author and do not necessarily reflect the views of the publisher. The publisher does not endorse or guarantee the accuracy of any information presented in this article. Readers are encouraged to conduct further research and consult additional sources before making any decisions based on the content provided.