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11h ago

Chainlink Hits Six-Month Peak as ICE Integration and Reserve Buyback Tighten Supply

Buy pressure from the Reserve’s automated revenue conversions coupled with ICE’s FX and metals data on-chain lifted LINK above $24

THESE are 3 reasons why LINK could rally to $30 – And what stands in the way!
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Link surges 10% as chainlink reserve, ice partnership fuel explosive rally
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Overview

  • Chainlink’s price reached $24.07 on August 12, marking a six-month high as it moved above the 0.618 Fibonacci level and approached a long-term descending trendline.
  • A press release on August 11 confirmed that ICE’s Consolidated Feed of forex and precious metals rates is now routed through Chainlink Data Streams, with every data request requiring LINK payments.
  • The Chainlink Reserve mechanism, launched in early August, has programmatically converted over $1 million of staking fees and enterprise revenue into LINK, acting as a recurring buyback that reduces circulating supply.
  • On-chain data from Lookonchain records heavy whale activity, including a 510,000 LINK withdrawal from Binance, alongside growing balances in 100k-1M LINK wallets, indicating mixed profit-taking and institutional accumulation.
  • Analysts identify a decisive break above $24–$26.50 as the trigger for new rally targets near $30–$40, while a failure to clear that band could keep LINK in consolidation around current levels.