Chainlink’s native token LINK rose 13.6% over 24 hours on Monday, paving the way for a broader crypto recovery following last week’s leverage-inspired downward move. The CoinDesk 20 Index (CD20), a measure of the broader crypto market, rose 4.2% during the same period.
On-chain analyst Lookonchain reported that 30 new wallets withdrew a total of 6,256,893 LINK ($116.7 million) since October 11, signaling a buildup by wealthy entities.
In its third-quarter report released Friday, Chainlink Labs detailed several major transactions and technology milestones that have sparked renewed investor optimism. The network announced collaborations with the interbank messaging system Swift, the American financial system clearing company Depository Trust and Clearing Corp. (DTCC) and its European equivalent, Euroclear, as well as a pilot project with the US Department of Commerce to put government data on-chain.
The report also outlines the broader vision of Chainlink’s platform, evolving from a decentralized oracle provider to a comprehensive infrastructure layer for tokenized and real-world assets.
Data from DefiLlama shows that ChainLink still dominates competing networks in terms of Oracle capacity, with $62 billion in total value secured (TVS), or 62% of the market. The closest competitor is Chronicle with $10 billion TVS.
