The Chainlink project is once again drawing attention, showcasing dynamic developments in the crypto and finance sectors. This article examines three key aspects contributing to its growth.
Chainlink’s Role in U.S. Crypto Policy
On July 18, Chainlink co-founder Sergey Nazarov attended the signing of the GENIUS Act by U.S. President Donald Trump. This bill aims to develop digital asset infrastructure and regulate stablecoins. According to Chainlink’s post, the team has been actively working with policymakers and regulators to shape crypto policy in the U.S. During this period, Chainlink launched its Automated Compliance Engine (ACE), which simplifies compliance checks for assets on the blockchain.
Rising Whale Activity
Since late June, large holders have significantly increased their LINK positions, accumulating over 8 million tokens worth around $150 million. Data indicates that LINK reserves on exchanges have dropped to all-time lows, suggesting growing investor confidence. Approximately 77% of LINK holders have held their tokens for more than a year, indicating low short-term selling pressure and a focus on long-term gains.
Global Adoption Through Real-World Use Cases
Chainlink is rapidly integrating into real-world projects. Westpac, one of Australia’s largest banks, is using Chainlink technology in the Project Acacia initiative with the Reserve Bank of Australia for tokenized asset settlements. Tokenization is expected to save up to AUD $12 billion annually, enhancing settlement efficiency and compliance.
Considering all factors, Chainlink holds a strong position in the market. Its application in government initiatives and increased whale activity could propel LINK's value further.
