According to CryptoPotato, Chainlink has seen a significant increase in value, with rising whale activity indicating a positive sentiment among its holders. In the past two weeks, whales have accumulated more than 7.5 million LINK tokens, worth around $53 million, even as several top crypto assets in the broader market flatlined. This accumulation trend suggests that LINK whales believe the token is undervalued at its current price and expect it to climb higher in the future. The increase in whale activity coincides with LINK's steady price appreciation over the past several weeks, with the asset gaining over 32% monthly and reaching $7.8.

LINK is currently attempting to reclaim its 2023 peak near $8.5, a level that has proved to be a strong resistance area as the asset faced several rejections since April. Continued buying activity could potentially flip this long-running trend in favor of bulls. Another factor contributing to the newfound interest in the asset could be the development of Chainlink's Cross-Chain Interoperability Protocol (CCIP). The Web3 oracle service provider recently announced a successful experiment proving that CCIP can be used to facilitate cross-chain settlement using tokenized assets. The experiment showcased ANZ Bank, one of the largest banks in the world, and demonstrated how financial institutions can offer access to tokenized assets via blockchain technology. The Chainlink ecosystem aims to position CCIP as the "new gold standard" for interoperability and has launched the protocol across six networks – Ethereum, Polygon, Avalanche, Polygon, Optimism, Arbitrum, and Base.