After a major buy notification from Donald Trump’s World Liberty Financial, WLFI, and rumors that Chainlink may partner with Cardano, Chainlink hit its weekly high, rising again from December 18, 2024.
LINK Reaches $26.87, Market Cap Now At $16.7 Billion. Chainlink, for instance, spiked 46% from this year’s low to reach $26.87. The rally saw its market capitalization fly to $16.7 billion, thus establishing its rightful position within the blockchain space.
Nansen indicates that a fund named WLFI, linked to Donald Trump, purchased $4.6m worth of LINK tokens, taking the outfit’s crypto assets above the $6.6m mark. It also has $179 million in Ethereum, USD Coin, Tether, Wrapped Bitcoin, AAVE, Ethena, and Tron. The total of the company’s assets has exceeded $322 million.
Trump’s Crypto Policies Could Revolutionize Chainlink’s Future
The Trump administration may be the real game changer in regulating cryptocurrency. Establishing a crypto advisory council and intending to appoint Paul Atkins as the new head of the SEC have led many people to believe that the approval of a spot Chainlink ETF is not a mirage. Such occurrences can foster a lot of positive change in investors and the flow of business on the market.
If the cherry on top was needed, Cardano’s co-founder Charles Hoskinson appeared to hint at a potential collaboration of the two projects. In a recent statement, Hoskinson underscored that one of his 2025 focuses would be making new alliances while revealing that he had secured a meeting with representatives at Chainlink: “It could create significant value in the future years for cooperation between both blockchains and dApps.”Preliminary signs of rising demand for Chainlink are also visible from exchange data.
Based on data from Coinglass, the balance of LINK tokens on exchanges is at a low not seen since December 20, 2024. This decline shows that investors are moving their LINK tokens to personal wallets for long-term storage.
On the daily chart, the indicators show the continued rise in the LINK token price action. This cryptocurrency has already crossed the 50 SMA at $22.87, which is its high of March 2024. According to technical analysis, the stock has broken out of the falling wedge, which is a bullish flag formation.
Chainlink has also portrayed a textbook case of an inverted cup and handle formation, which is a naturally bullish pattern. Based on this pattern, LINK could be around $37 shortly. Analysts achieve such a target by employing the above pattern. As such, once the charting pattern is obtained, the measure’s depth is defined as the distance upwards from the breakout point.
The recent spike in the price of Chainlink reflects everything this institutional interest and likely partnerships reflect. WLFI has invested vast capital in it, another advancement in regulation is evident just around the corner, and with a probable partnership with Cardano, LINK has established itself as one of the most potentially rewarding cryptocurrencies to watch out for in 2025.
This news is republished from another source. You can check the original article here
