Chainlink surges to 7-month high as wallet growth hits 2025 record — Is $30 within reach?

Chainlink’s native token, LINK, briefly touched an intraday high of $26.51 on Aug. 19 before easing back to around $24.72. 

The move extends a steady climb that has seen the token gain 13% over the past week and nearly 30% in the last month. Even so, Chainlink ( LINK ) remains more than 50% below its all-time high of $52.70, set in May 2021.

On-chain data suggests that the latest price push is not just speculation. On Aug. 19, analytics firm Santiment reported that Chainlink recorded its strongest wallet activity of 2025 in mid-August. More than 9,800 addresses made transfers on Aug. 17, while 9,600 new wallets were created on Aug. 18, setting yearly highs for both metrics.

Wallet creation and transaction volume are often regarded as markers of organic network growth. For Chainlink, the spike points to a resurgence in institutional and retail demand , which could pave the way for longer-term, more stable price movement.

Fundamental drivers behind LINK’s momentum

The rally has been fueled by a number of recent events. The Chainlink Reserve, a smart contract treasury that locks away revenue from enterprise integrations, was launched by Chainlink earlier this month. More than 100,000 tokens have already been absorbed by the mechanism, putting deflationary pressure on the supply in circulation.

Partnerships have been important as well. On Aug. 11, Chainlink and Intercontinental Exchange, the parent company of the New York Stock Exchange, announced an agreement to integrate precious metals and foreign exchange data into Chainlink’s Data Streams product.

Building on past partnerships with the DTCC and SWIFT, this strengthens Chainlink’s position as a link between traditional finance and blockchain. Adoption in decentralized finance and real-world asset tokenization has also continued to rise, with Chainlink currently securing over $90 billion in total value across protocols.

In addition, the July signing of the GENIUS Act, which formally recognized oracles as critical infrastructure, and Chainlink’s contribution to Securities and Exchange Commission guidance, have improved sentiment even more.

Chainlink technical analysis

From a technical standpoint. LINK is still in a bullish trend. Most of the moving averages from the 10-day to the 200-day are in favor of buyers, and the moving average convergence divergence is pointing upward.

Chainlink daily chart. Credit: crypto.news

Meanwhile, momentum indicators such as the relative strength index at 64 and the Stochastic at 87 indicate that the token is approaching overbought territory, suggesting the potential for short-term pullbacks.

If the upward trend persists, LINK will face resistance in the $27.50- to $28.0 range, with $30 serving as the next significant psychological barrier . On the downside, there is stronger support near $21.00, with initial support located around $22.50.