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By Krisztian Sandor, CD Analytics|Edited by Stephen Alpher
Aug 12, 2025, 8:09 p.m.
- Chainlink’s native token surged 10% to a seven-month high on Tuesday, extending its weekly gains to 42%.
- Among the catalysts are a new partnership with the parent company of the New York Stock Exchange and a token buyback initiative dubbed the Chainlink Reserve.
- Technical indicators show bullish momentum for LINK if it can break above the near-term resistance at around $24, CoinDesk’s analytics model suggests.
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.
STORY CONTINUES BELOW
Among the catalysts was a fresh collaboration between Chainlink and Intercontinental Exchange, the parent company of the New York Stock Exchange, to bring foreign exchange and precious metals pricing data on-chain. The partnership underscores the network’s expanding role as a bridge between traditional finance and blockchain rails.
A token purchase program dubbed the Chainlink Reserve, announced last week in a blog post, aims to convert revenue from Chainlink’s services and enterprise integrations into LINK tokens, establishing persistent buying momentum.
- LINK now trades above its 50-day and 200-day moving averages, validating bullish momentum, CoinDesk’s market analysis model showed.
- Near-term resistance emerged near $24, with support around $21.00–$21.30.
- Relative strength index (RSI) measurements approach overbought conditions at 72.72, indicating potential for near-term consolidation.
- A conclusive breakthrough above the $24.10-$24.13 resistance zone could trigger the subsequent rally phase.
Read more
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
Krisztian Sandor is a U.S. markets reporter focusing on stablecoins, tokenization, real-world assets. He graduated from New York University’s business and economic reporting program before joining CoinDesk. He holds BTC, SOL and ETH.
CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.
All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.
CoinDesk Analytics operates under CoinDesk’s AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk’s approach to AI-generated content in our AI policy.
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