Overview

• The Treasury Strategy activated on August 7 has locked over $1 million of protocol revenue into LINK reserves, mirroring Ethereum’s EIP-1559 deflationary approach.
• LINK climbed to a five-day high of $22.46, extending a 29.75% weekly gain and breaking above key resistance at $21.
• Holders with 100,000–1,000,000 LINK tokens have accumulated roughly 12.65 million LINK in August, reducing circulating supply and signaling strong on-chain confidence.
• Exchange reserves of LINK have dropped to 273 million tokens, reflecting combined pressure from the protocol’s buybacks and accelerated whale hoarding.
• Analysts point to a third-phase Elliott Wave setup alongside bullish RSI and MACD readings, targeting a rally toward $25 while $20 remains a critical support level.