Chainlink's LINK nears $10 as institutional demand and network growth accelerate
Chainlink’s price surged close to $10 on Thursday, marking an almost 10% gain for the week. The rally came as network activity and institutional interest picked up speed. A new investment fund also launched, integrating Chainlink’s technology for real-world asset management. The price climb followed a break above key technical resistance levels. By Thursday, LINK traded around $10.10, staying above its 50-day and 100-day exponential moving averages. However, it remained below the 200-day exponential moving average, a level traders often watch for long-term trends.
Network activity has been growing since early May. Daily active addresses, transaction volume, and overall network growth all showed steady increases. Futures open interest also rose sharply, hitting $495.74 million on Thursday—a sign of fresh capital entering the market.
Institutional engagement returned as well. Spot LINK exchange-traded funds saw $532,900 in inflows on Wednesday, reinforcing the trend. Meanwhile, technical indicators pointed to strong momentum. The relative strength index neared 66, approaching overbought conditions, while the moving average convergence divergence indicator stayed positive with widening histogram bars.
Separately, State Street Investment Management and Galaxy Asset Management introduced a new fund using Chainlink’s systems. The State Street Galaxy Onchain Liquidity Sweep Fund relies on Chainlink’s NAVLink and Cross Chain Interoperability Protocol to manage real-world assets on-chain.
Analysts now monitor the $9.92 support zone and the 100-day exponential moving average near $9.84. If prices pull back, further support could appear around $8.86. Chainlink’s recent rally reflects both technical strength and rising network participation. With institutional inflows and a new fund leveraging its technology, the project continues to attract attention. Traders are now watching whether the price can hold above $10 or if a correction tests lower support levels.
