LINK Surges 10% as Chainlink Reserve, ICE Partnership Fuel Explosive Rally
Main Idea
Chainlink's native token LINK surged 10% to a seven-month high, extending its weekly gains to 42%, driven by whale accumulation and a partnership with Intercontinental Exchange.
Key Points
1. Chainlink's native token LINK surged 10% to a seven-month high, reaching over $24 for the first time since February.
2. The token's weekly gains totaled 42%, the highest among the top 50 tokens by market capitalization.
3. A key catalyst was a collaboration between Chainlink and Intercontinental Exchange (parent company of NYSE) to bring foreign exchange and precious metals data on-chain.
4. The Chainlink Reserve program aims to convert revenue from Chainlink's services into LINK tokens, creating persistent buying momentum.
5. Technical indicators suggest near-term resistance near $24 and support around $21.00–$21.30.
Description
Oracle service Chainlink's (LINK) native token surged 10% on Tuesday to a fresh seven-month high amid new traditional finance partnership and a recent token buyback initiative. The token topped $24 for the first time since February, extending its rally to 42% in a week. That's the biggest gain during among the top 50 tokens by market capitalization, CoinDesk data shows. Among the catalysts was a fresh collaboration between Chainlink and Intercontinental Exchange, the parent company of the New Yo...
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