Chainlink (LINK) demonstrates significant growth over recent weeks, reaching a seven-month high. This article examines the key factors contributing to this increase.
New Wallet Growth
According to Santiment, Chainlink has strengthened its position among altcoins, breaking above $26, a level not seen since January this year. On Sunday, 9,813 distinct addresses engaged in transfers, while Monday saw 9,625 new wallets created, setting a record high for wallet creation in 2025. These metrics suggest organic growth and increasing confidence in the project’s ecosystem.
Technical Analysis and Forecasts
Some analysts suggest that LINK’s breakout is more than a short-term bounce. A trader observed that the token is on the verge of breaking a four-year resistance trend around the $30 level. If LINK manages a clear breakout above this zone, it could ignite a parabolic rally, and its price acceleration could resemble steep upward moves seen in past crypto cycles.
Chainlink Reserve as a Catalyst
Michael van de Poppe, founder of MN Trading Capital, noted that Chainlink’s long-standing downtrend has officially come to an end, leading to a rise in asset value. He added that the Chainlink Reserve initiative, unveiled earlier this month, could contribute to this growth by creating sustainable buying pressure and aligning institutional demand with token supply.
In summary, Chainlink's growth amidst increased network activity and the creation of new wallets points to a potential long-term strengthening of the token and its market position.
