Chainlink’s LINK token is seeing a significant boost in price and market activity, following a strategic increase in holdings by World Liberty Financial (WLFI), a project supported by Donald Trump’s family. The firm recently purchased another $1 million worth of LINK, bringing its total investment to $2 million. This move is part of a broader strategy, with WLFI diversifying its holdings into digital assets, including Ethereum (ETH-USD), Bitcoin (BTC-USD), and stablecoins. According to Lookonchain, WLFI has been aggressive in its recent buys, acquiring 37,052 LINK tokens at $27 each.
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Record Open Interest Shows Investor Confidence
This renewed interest in LINK has translated into a sharp uptick in market activity. By Friday morning in Asia, LINK prices neared $30, with open interest (OI) in the token’s futures soaring to new heights, surpassing $860 million. Open interest is a key indicator of market sentiment, and a rising OI alongside a price increase is often seen as a bullish signal.
Chainlink’s Utility Drives Demand
The surge in LINK’s price isn’t purely speculative—its utility as part of Chainlink’s oracle service is integral to its appeal. Chainlink bridges the gap between on-chain and off-chain data, which provides key services for decentralized finance (DeFi) platforms. This growing demand for its infrastructure, combined with significant purchases like WLFI’s, is fueling LINK’s current rally.
At the time of writing, LINK is sitting at $28.87.
