Chainlink (LINK) attracted attention with a monthly increase of 119%, reaching its highest level since January 2022. Futures open interest reached a new record of $770.27 million, while intense buying by whales supported this price increase. The developing ecosystem and innovative solutions reinforce LINK’s long-term potential.
Chainlink (LINK) continues to rise in price amid growing interest from sophisticated investors. LINK reached $29.45 on Thursday, its highest value since January 2022. The decentralized oracle network has been one of the best-performing assets in the cryptocurrency market, with a remarkable 119% increase over the past month. According to CoinGecko data, it has also gained 20% in the past seven days.
Data from on-chain analytics platform Glassnode shows that LINK’s futures open interest (OI) has reached an all-time high of $770.27 million, outpacing rival projects Toncoin (TON) and TRON (TRX). Toncoin’s OI is $259 million, while TRON’s is $356 million.
Whale purchases have also been a major factor in LINK’s price increase. According to on-chain data, World Liberty Financial purchased 41,335 LINK tokens worth $1 million at an average price of $24.19. Whale purchases create confidence in the market, triggering price volatility.
Chainlink stands out not only for its technical innovations but also for its strong partnerships. These partnerships include major DeFi projects and institutional players. Finally, solutions integrated with Coinbase’s incubation program have made Chainlink one of the strongest players in the industry.
According to experts, the altcoin plays a leading role in solving interoperability issues of blockchain technology. This increases the long-term adoption potential of LINK. The increase in futures volume and on-chain activity indicates that LINK’s uptrend may continue. The interest of investors and whales creates a positive atmosphere that the project can push its price even higher in the short term.