Chainlink's LINK Token Has Had a Great Few Months

Chainlink’s LINK token has rallied quite a bit lately, reaching its highest value in over three years on December 13 at a time when the decentralized network

Chainlink's LINK token has seen some impressive gains over the past few months, reaching its highest value in over three years on December 13.

The digital asset climbed to $30.94, according to Binance data from TradingView. Notably, Chainlink is now trading at levels not seen since early 2024.

Binance figures also show that the cryptocurrency experienced some very impressive gains in the months leading up to this local zenith. For instance, LINK was trading below $10.00 as recently as September.

Chainlink (LINK) price analysis for 13 December 2024 - TradingView

“The Chainlink token has seen a remarkable rise in the last month, rising 286% since the US elections to reach a multi-year high of $30.9 today,” senior research analyst for CCData Jacob Joseph noted in emailed comments to Finbold.

“The token’s recent surge in price action appears to be driven by the shift in sentiment, spurred by Donald Trump's DeFi project, World Liberty Financial, accumulating nearly 80,000 LINK tokens and integrating the Chainlink standard into their platform.”

“Moreover, the fundamentals of Chainlink remain stronger than ever, with this cycle being characterized by the growing adoption of blockchain technology and digital assets by institutional players,” he stated.

“Chainlink oracles have been leveraged by central banks, financial institutions, and payment networks like SWIFT in their blockchain experiments. As the leading provider of oracle solutions, Chainlink is best positioned to capitalize on the age of tokenization, which the likes of Larry Fink have hailed as the future of financial markets,” Joseph said.

TikTok influencer Wendy O also weighed in, offering her thoughts on some key developments that have coincided with the LINK token's recent strength.

“Chainlink has been making long term utility moves while meme coins have taken the spotlight. On 11/14/2024 World Liberty Finance, the Web3 platform President Elect Trump is advising for announced it would be adopting the Chainlink model utilizing their oracles to fuel and secure DeFi,” the prominent crypto analyst noted.

“On 12/12/2024 Look On Chain posted via X, that World Liberty Finance bought 41,335 at $24.20, shortly after we saw LINK run to ~$31. However on 12/2/2024 LINK broke out of the $21.58 (weekly close and high of 2024) of area to a high of $26.86 and then back down with a bit of volatility,” she said.

The chart below illustrates these developments:

Price history for Chainlink's LINK token / Wendy O

“Chainlink (LINK) price today reached $30.9 after showing strength throughout 2024, and is now up over 270% from the 2024 low,” she added.

“After breaking out of the $21.58 area (weekly close and high of 2024) on December 2, LINK price quickly moved up to a high of $26.86 before coming back down with a bit of volatility.”

“As LINK price consolidated throughout December, it found support at the 200-day moving average (blue line) on the daily chart, while also forming a bullish morning star candlestick pattern on the weekly chart,” the TikTok influencer concluded.

I own some bitcoin, bitcoin cash, litecoin, ether, EOS and SOL.