- LINK launches a $1M on-chain reserve to strengthen long-term network sustainability and reduce circulating supply.
- Its price holds above key technical levels with bullish indicators pointing toward $27–$31 targets.
- The derivatives market surges with $1.3 billion open interest and $3.39B volume as traders position for a breakout.
Chainlink is back in the headlines again following the token reserve launch and is eyeing an increment in its price with the overall market. Its price in the last 24 hours has gone up by 5.26%, and in the last week, it’s also up 37.65%.
LINK is currently trading at $22.16 with a 24-hour trading volume of $1.6 billion, up by 15.85% over the last 24 hours. The coin has a market capitalization of $14.99 billion, which is also up by 5.26%.
The wider crypto market is exhibiting renewed bullish energy, fueled by Bitcoin’s continued upward movement towards its ATH near $123,000. Altcoins are also following this wave, as sentiment among investors continues to improve.
LINK Reserve Plan Points to Long-Term Growth
A prominent crypto analyst, CryptosRus, highlighted that LINK has revealed an on-chain strategic reserve for boosting long-term network sustainability. Through the treasury, the tokens will accumulate through revenues from enterprise partnerships and blockchain services, creating an economic buffer to support ecosystem growth, operational integrity, and resistance in moments of market unpredictability.
The reserve has already built up over $1 million worth of tokens, which is a healthy start to the program. By ongoing purchases of tokens from service charges and corporate customers, it will decrease circulating supply but fortify confidence in its tokenomics.
Also Read: Chainlink (LINK) Breaks Multi-Year Pattern, Price Targets $35–$100 Ahead
Bullish Momentum Suggest LINK Could Hit $31
The rally has firmly taken LINK above its 9-day EMA ($18.50) and Bollinger mid-band ($16.97), which confirms it is firmly above key short-term support levels. Holding at these levels also verifies the bullish configuration and reduces the odds for an abrupt retracement in the near future.
Technical indicators exhibit very high buying pressure. The Relative Strength Index (RSI) at 68.75 is close to the overbought region, and the MACD continues in the bullish area with positive histogram bars. The price maintenance above $18 would see further room for growth into $27 and $31, but failure at holding this level would trigger a retracement into $15.76 before another upward push.
LINK Futures Data Points to Sustained Price Rally
Derivatives market statistics continue to reinforce the ongoing bullish sentiment. Open interest rose by 5.37% to $1.30 billion, and the trading volume by 15.95% to $3.39 billion, indicating market participants are positioning aggressively for a breakout.
Moreover, the OI-weighted funding rate stands at 0.0135%, reflecting a clear long position dominance among leveraged investors. In derivatives trading, a positive funding rate suggests buyers are willing to pay a premium in order to carry their positions.
Also Read: Chainlink Price Prediction 2025: Will LINK Break Its $52 All-Time High?
