Chainlink is taking strategic measures to attract institutional investors, though the network faces ongoing challenges.

Chainlink's Network Challenges

Despite strategic measures to attract investors, Chainlink faces network challenges. LINK has reached the $12 mark twice in the past two months, facing resistance each time. Currently priced at $11.28, the main hurdle is to surpass the $12 resistance. Market analysts suggest this breakthrough might occur before the end of Q4.

Partnerships and Development

To enhance its appeal to institutional investors, Chainlink Labs has partnered with Taurus. This alliance aims to boost LINK's transaction capabilities, essential for maintaining its competitive edge in the blockchain industry.

Impact on Price

Key factors influencing LINK's price include the activity of 'whales', who hold a significant share of the coins. There has been an increase in whale interest, converting the $10 resistance level into a support base. Achieving this milestone makes it plausible for LINK to overcome the $12 resistance soon.

Chainlink continues its strategic development, focusing on institutional investors and partnerships, enhancing its competitiveness despite internal challenges.