Chainlink (LINK) surges by over 80% in the last 28 days

Chainlink (LINK) has been in the news lately, drawing interest from investors with its impressive results. The crypto saw an unprecedented increase of over 80% over the course of the last month, rising from $7.362 to $17.

Even though LINK is currently trading at $14, reflecting a slight 5% decline in the market, the recent bullish movement has excited enthusiasts.

Chainlink’s story takes an interesting turn thanks to insights from Santiment’s data. When the token was trading for less than $7.40 on October 17th, the 200 biggest wallets added a total of 40.18 million LINK.

The asset surged 125% to about $14.60 in just 25 days, and wallet activity has remained high ever since.

Chainlink’s possible breakout from a bullish flag pattern was further clarified by cryptocurrency analyst Ali Martinez. Based on his conjectures, the analyst believes that there will be a retest at $14 and then a possible rise to $20.

Working with 12 financial institutions and Swift was a significant step forward for Chainlink. Through this partnership, Chainlink’s Cross-Chain Interoperability Protocol (CCIP) demonstrated the quick, safe, and secure transfer of tokenized value between public and private blockchains.

In order to ensure smooth interoperability and demonstrate the project’s increasing prominence in the blockchain space, Chainlink, acting as an enterprise abstraction layer, connected the Swift network to Ethereum Sepolia.