Chainlink’s native token LINK surged 13.6% in 24 hours on Monday as it paved the way for a broader crypto rally following last week’s leverage-inspired bearish move. The CoinDesk 20 Index (CD20), a measure of the broader crypto market, added 4.2% in the same period.
On-chain analyst Lookonchain reported that 30 new wallets had withdrawn a total of 6,256,893 LINK ($116.7 million) since October 11, indicating accumulation by high net worth entities.
In its third-quarter review released Friday, Chainlink Labs detailed several major deals and technology milestones driving renewed investor optimism. The network announced collaborations with interbank messaging system Swift, US financial system clearing company Depository Trust and Clearing Corp. (DTCC) and its European equivalent, Euroclear, along with a pilot with the US Department of Commerce to bring government data into the chain.
The report also outlined the broader vision for Chainlink’s platform, evolving from a decentralized oracle provider to a complete infrastructure layer for tokenized and real-world assets.
DefiLlama data shows that ChainLink still dominates rival networks in terms of oracle capacity, with $62 billion in total value insured (TVS), equivalent to 62% of the market. The closest competitor is Chronicle with $10 billion in TVs.
