Chainlink surges to 7-month high as wallet growth hits 2025 record — Is $30 within reach?
Chainlink’s native token, LINK, briefly touched an intraday high of $26.51 on Aug. 19 before easing back to around $24.72.
- Chainlink hit 7-month high of $26.51 before pulling back slightly, now 30% up in the last month.
- Wallet activity reached 2025 highs, signaling strong network growth.
- Partnerships and adoption strengthen fundamentals as $30 looms.
The move extends a steady climb that has seen the token gain 13% over the past week and nearly 30% in the last month. Even so, Chainlink ( LINK ) remains more than 50% below its all-time high of $52.70, set in May 2021.
On-chain data suggests that the latest price push is not just speculation. On Aug. 19, analytics firm Santiment reported that Chainlink recorded its strongest wallet activity of 2025 in mid-August. More than 9,800 addresses made transfers on Aug. 17, while 9,600 new wallets were created on Aug. 18, setting yearly highs for both metrics.
Wallet creation and transaction volume are often regarded as markers of organic network growth. For Chainlink, the spike points to a resurgence in institutional and retail demand , which could pave the way for longer-term, more stable price movement.
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.
Chainlink daily chart. Credit: crypto.news
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.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
How much CPO demand will Nvidia Rubin Ultra generate? Bernstein: Optical value per Pod will increase fivefold
Bernstein believes that the co-packaged optics (CPO) and fiber demand driven by Nvidia's Rubin Ultra architecture will surge significantly, with the optical content per Pod rising from $1 million to $5.4 million. This will propel the size of Nvidia's optical ecosystem market to $46.8 billion by 2028 (a 91% annual increase). Although the industry faces supply bottlenecks with InP substrates, the outlook remains positive. The institution reiterates its “outperform” rating for Lumentum, Coherent, and Ciena.
UBS Q3 implements a two-way strategy with gold options, heavily invests in technology stocks, and builds positions in SK Hynix (SKHY.US)
UBS Group (UBS.US) has submitted its Q3 holdings report (13F) as of September 30, 2026.
SpaceX (SPCX.US) reportedly attempts “de-Nvidiaization” at the rack level: developing Kessel cabinets to bypass L6 compute boards, purchasing only chips
SemiAnalysis: SpaceX has developed its own Kessel cabinet, bypassing Nvidia's L6 cards to provide more options for manufacturing its own hardware.
$3.7 billion “data center power equipment prepayments” abandoned! What did "the most active buyer of gas turbines", SoftBank, see?
In the second quarter of fiscal year 2026, SoftBank reported a net loss of $7.1 billion, primarily due to a $3.7 billion impairment charge from a $9.5 billion advance payment for power generation equipment for US data centers—of which about $2.9 billion was non-refundable and effectively lost. The CFO admitted that SoftBank placed orders before the project plan was finalized, and is now conducting a comprehensive review of its procurement strategy. "The most aggressive purchaser of gas turbines has now written off the deposit in this way."
Crypto prices
More
