Chainlink’s LINK Hits 8-Month High After Fed Remarks, Protocol Buyback and Security Milestones
Chainlink’s LINK token surged 12% on Friday, climbing to $27.80, its highest level since December. The rally came in tandem with a broader upswing in crypto markets after Federal Reserve Chair Jerome Powell hinted at potential interest rate cuts during his Jackson Hole address.
Bitcoin (BTC) rose 3.5%, while the CoinDesk 20 Index jumped 6.5% on renewed investor appetite for risk assets.
Chainlink’s gains were further bolstered by protocol-specific catalysts. The oracle network became the first in its category to achieve both ISO 27001 and SOC 2 Type 1 certifications — a move aimed at reinforcing institutional trust. The security audits, conducted by Deloitte, covered Chainlink’s price feeds, proof-of-reserve services, and Cross-Chain Interoperability Protocol (CCIP).
In addition, Chainlink’s ecosystem treasury — the Chainlink Reserve — continued its open-market accumulation of LINK. On Thursday, it purchased 41,000 LINK (approximately $1 million), bringing its total holdings to 150,778 LINK, now worth over $4.1 million.
Technical Market Highlights
- Support Base: Strong defense observed at $24.15, with volume support signaling bullish conviction.
- Resistance Levels Cleared: LINK broke through key technical ceilings at $25.00, $25.50, and $26.00, confirming momentum via institutional participation.
- Volume Spike: Trading volume surged to 12.84 million, nearly 5x the daily average.
- Breakout Formation: Prior to the rally, LINK consolidated tightly between $24.70–$25.10, a setup that often precedes explosive upside.
- Momentum Indicators: Chart signals point to continued accumulation, with sustained bullish momentum driven by both retail and institutional interest.
