Chainlink’s native cryptocurrency, LINK, experienced a significant bullish movement, climbing approximately 13.6% within a 24-hour timeframe this Monday. This impressive rally outpaced the broader crypto market, with the CoinDesk 20 Index (CD20), a benchmark tracking major digital assets, increasing by 4.2% during the same period.
On-chain analysis firm Lookonchain highlighted a notable trend of accumulation by large investors, revealing that since October 11, 30 new wallets have collectively withdrawn over 6.25 million LINK tokens from exchanges, valued at around $116.7 million. This activity suggests intensified interest and buying pressure from high-net-worth holders, sometimes referred to as “whales.”
Contributing to the renewed market confidence surrounding Chainlink, the project’s third-quarter report, published last Friday by Chainlink Labs, underscored several strategic developments and technology enhancements. Among key highlights, Chainlink announced partnerships with significant financial infrastructure entities including the interbank messaging network Swift, the U.S. clearinghouse Depository Trust and Clearing Corporation (DTCC), and its European counterpart Euroclear. Additionally, Chainlink is running a pilot program with the U.S. Department of Commerce aimed at on-chain integration of government datasets.
These collaborations are part of Chainlink’s broader vision to evolve beyond its foundational role as a decentralized oracle service — which facilitates the seamless and secure transfer of real-world data onto blockchain platforms. The project aims to establish a comprehensive infrastructure layer designed to support the tokenization of assets and the management of real-world financial instruments.
Supporting Chainlink’s market-leading position, data from DeFiLlama reveals that it continues to dominate the oracle space, controlling approximately $62 billion in total value secured (TVS). This represents a commanding 62% share of the oracle market, leaving the closest competitor, Chronicle, with a TVS of around $10 billion.
Overall, Chainlink’s recent price performance and strategic advancements reflect growing institutional interest and confidence in the protocol’s capability to bridge traditional finance with decentralized ecosystems. The combination of large-scale token accumulation and meaningful partnerships positions LINK as a prominent player amid ongoing crypto market recovery efforts.
