Chainlink began a strong upward trajectory in July, along with the rest of the crypto market. The altcoin recently hit a seven-month high. In the past 30 days alone, LINK has climbed by almost 30%. Behind the resurgence, the network is seeing an increase in wallet creation and network activity. New Wallet Growth According to Santiment, Chainlink has strengthened its standing among altcoins with a breakout above $26. This level was last seen in January this year. More telling than the price jump are the network forces fueling it. On Sunday, 9,813 distinct addresses engaged in transfers, and Monday brought 9,625 brand-new wallets, both setting 2025 highs. These metrics suggest organic growth and increasing confidence in the project’s ecosystem. If participation continues at these peaks, the crypto analytic platform said it could validate the upward trajectory and open the door for LINK to challenge $30, thereby establishing an even stronger foothold in the current altcoin market. Market commentators argue that LINK’s breakout is more than a short-term bounce. For instance, a trader observed that the token is on the verge of breaking a four-year resistance trend around the $30 level. They argued that 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. This surge could ultimately propel LINK toward the $200 mark. Chainlink Treasury: A Catalyst? Michael van de Poppe, founder of MN Trading Capital, said in a recent post on X that Chainlink’s long-standing downtrend has come to an end. According to him, the asset has now shifted into an upward trajectory, in what appears to be a clear change in market structure. Van de Poppe added that LINK is emerging as “one of the strongest assets in the space,” and attributed the renewed momentum to the announcement of the Chainlink Reserve. The development, he added, could provide a foundation for continued growth as the project gains further traction within the market. Chainlink Reserve was unveiled earlier this month. It’s a new on-chain mechanism that aims to channel enterprise demand directly into the LINK token. The reserve will accumulate LINK through revenue generated from institutional service fees as well as on-chain usage fees from decentralized applications. The initiative is intended to boost the sustainability and long-term growth of the Chainlink network by creating steady buying pressure and aligning institutional adoption with token demand. The post Data Reveals Why Chainlink’s Rally Might Only Be Getting Started appeared first on CryptoPotato .
