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LINK price pushed above $15 as Chainlink expanded its institutional infrastructure and large holders accumulated more tokens. LINK closed Sept. 28 near $15.43 after gaining roughly 10% during the session.
The rally coincided with the launch of CCIP 2.0 and continued institutional adoption. Coinbase, Wyoming and major financial institutions have expanded their use of Chainlink infrastructure during recent months.
LINK Price Rally To Continue for Another 200%
Over the past month, the Chainlink price has shown major strength, surging nearly 40% from the lows of $10.68. Now, despite the broader crypto market correction ahead of the US PCE inflation data release, LINK price continues to move forward, looking for a breakout past $15.
Crypto analyst Javon Marks said Chainlink’s (LINK) price has staged a significant turnaround and may be entering a new upward wave. Marks said the token’s breakout target of $47.154 remains in play. He suggested a potential rally of nearly 200% from the current levels if the target is achieved.
Chainlink Whale Activity and On-Chain Data Shows Strength
The recent Chainlink price rally comes on the heels of strong whale activity. Large holders have continued accumulating Chainlink (LINK), adding more than 2.50 million tokens over the past 10 days. The sustained buying activity points to continued interest among whales, reported analyst Ali Martinez.
Martinez also noted that 1,500 new Chainlink (LINK) addresses are reportedly being created each day. This highlights continued growth in the network’s user base. Martinez added that if the buying demand for LINK persists, the next point of resistance could be at $16, where 16.9 million LINK were previously acquired.
Beyond that level, Martinez identified $17.70 as another key hurdle, citing the accumulation of an additional 22.7 million LINK at that price.
Chainlink CCIP 2.0 Goes Live, Institutional Demand Grows
Chainlink said its Cross-Chain Interoperability Protocol (CCIP) 2.0 is now live. Some of the top industry names associated with it include Fidelity International, ANZ, SBI, Deutsche Börse, Google Cloud, and AWS.
The updated protocol allows institutions to add their own checks through cloud platforms, configure settlement speeds, and apply compliance requirements to transfers. Moreover, the CCIP 2.0 upgrade gives applications greater control over cross-chain security while retaining Chainlink’s default verifier network. It marks a significant infrastructure development for a protocol that has already processed more than $24 billion in cumulative CCIP transfer volume.
On the other hand, the institutional demand for the Chainlink ecosystem continues to improve. This demand aims to connect crypto, traditional assets, and tokenized stocks.
Researchers at Santiment reported that Coinbase has selected Chainlink as the oracle infrastructure provider for its tokenized stocks. On the other hand, Wyoming has expanded its use of Chainlink for the state-backed FRNT stable token.
Spot Chainlink ETFs attracted an additional $6.3 million in inflows over the past week, according to the update. The products now hold approximately $227 million worth of LINK, equivalent to around 2.2% of the current supply.
This article is for informational purposes only and does not constitute financial or investment advice. Analyst targets and technical scenarios remain conditional.
