Chainlink (LINK) continues its robust growth due to the establishment of a strategic reserve aimed at supporting its oracle network and ensuring token stability.
Creation of Strategic Reserve
The recent surge of 9.92% in LINK over the day was linked to the announcement of a strategic reserve, which will utilize both on-chain and off-chain revenues for the acquisition of LINK tokens. This initiative, according to the Chainlink team, is aimed at expanding and stabilizing their decentralized oracle network.
Integration with Misyon Bank
Chainlink has also integrated with Misyon Bank, further strengthening the ties between traditional finance and blockchain infrastructure. This integration allows for the use of oracle data directly into banking platforms, particularly in high-trust finance sectors.
Technical Analysis and Forecasts
Currently, LINK is trading at $18.32, which is a 36.5% increase from last month, despite a slight 8.19% year-to-date decline. Analysts expect that if the $18.05 level holds, new targets will be set at $20.50, $24.00, and possibly $28.00 in the coming weeks.
New initiatives by Chainlink, including the creation of a strategic reserve and integration with traditional financial institutions, highlight the sustained growth and evolving opportunities within the LINK ecosystem.
