LINK Skyrockets, Nose-dives, and Teases All-Time High: Is It Time to Panic or Party?

by
  • Apparently, the Chainlink network is now the hottest club in town for Wall Street types looking to tokenize real-world assets. One can only imagine them trying to explain NFTs to their mums at Sunday lunch. 🥂
  • LINK price strutted onto the scene with a full-on bullish breakout last week—champagne corks everywhere—before slipping off its heels and tumbling a tad. Don’t worry, drama fans: it’s still alive and well.

Chainlink (LINK) is clearly in a mood. After rocking a wild 25% rally last week—flexing harder than a gym rat in January—the price decided to have a quick lie-down, dropping over 3% to lounge at a chill $17.04. This all happened on May 14, somewhere in the middle of North American traders’ caffeine highs… or lows. ☕️

And in classic crypto fashion, as soon as things looked too good, the party police showed up: forced liquidations of $1.4 million. (That’s right—your gentle reminder not to YOLO all your savings on green candles, kids.) LINK’s still got a rather sassy market cap of $17 billion and sees $627 million traded daily, which is more action than my social calendar this year.

Chainlink: Now Collecting Institutional Fanboys

Chainlink’s definitely not social distancing from the big investors; institutional types are elbowing their way in. Futures Open Interest (OI) nearly doubled, from $424 million to $727 million. If only my savings could do the same. Just imagine my next brunch. 

One particularly eyebrow-raising bit: Kinexys (from J.P. Morgan, no less) just cosplayed as a crypto-native and did a deal with Ondo Finance, roping in Chainlink for a testnet transaction. “Groundbreaking! Cross-chain! Collaboration!” (Translation: Look, Mum, we used a blockchain!)

Poor Nelli Zaltsman from Kinexys had to do the corporate press release thing, but I’m sure she’s secretly still googling what “cross-chain solution” actually means.

LINK Price: Crystal Ball Time 🤓

If you’re into stats, Intotheblock says LINK and Bitcoin are basically besties right now—correlation is 0.93 out of 1, meaning they can pretty much finish each other’s sentences. With Bitcoin teasing its way into new price discoveries, LINK could be planning a dramatic return to its high of above $50. Don’t put away your confetti cannon just yet.

Zooming all the way into the four-hour chart (for those who judge their life in candlesticks), LINK is clinging to a rising channel. If it manages to vault over the upper border without tripping, we could see an inevitable mad dash to the next liquidity playground: $19 to $26. Anyone else getting déjà vu, or is it just me?

Read More

2025-05-15 00:11