LINK (Chainlink) rose 14.85% in the last 24 hours.

Gate News Bot news, August 18, according to CoinMarketCap data, as of the time of writing, LINK (Chainlink) is currently priced at $25.87, with a rise of 14.85% in the last 24 hours, reaching a high of $26.22 and a low of $20.87, with a 24-hour volume of $2.644 billion. The current market capitalization is approximately $17.541 billion, an increase of $2.268 billion from yesterday.

Chainlink is the core infrastructure of blockchain. Chainlink provides key functions such as cross-chain communication, compliance, data, and computation, enabling financial institutions and blockchains to access secure data, cross-chain interoperability, and decentralized computation, thereby building advanced on-chain applications. Chainlink is trusted by global institutions such as Swift, JPMorgan, and Mastercard, and has supported hundreds of billions of dollars in on-chain transactions.

Important news about LINK recently:

1️⃣ LINK Reserve Fund Plan Drives Token Value Chainlink launched the "LINK Reserve Program" in early August, converting on-chain oracle network income and off-chain enterprise service revenue into LINK token reserves proportionally. The reserve scale has currently exceeded one million dollars, and in the long term, it will create supply shocks through a continuous buyback mechanism, strengthening the token's value capture ability. Chainlink's strategic reserve added 44,109.76 LINK, bringing the total to 109,661.68 LINK, with a total value of 2.55 million dollars.

2️⃣ Large Capital Inflows and Institutional Layout In the past 30 days, the net inflow of LINK on-chain reached 275,002 tokens (approximately $6.65 million), and the reserves of centralized exchanges fell to an 18-month low. The share of whale holdings increased from 37% in June to 42%, indicating that institutional-level capital is accelerating its positioning. A large address recently purchased 938,489 LINK tokens worth approximately $21.23 million through multiple wallets, with an average price of $22.62. Additionally, a new wallet address withdrew 455,298 LINK from a centralized exchange within 4 hours, worth approximately $10.20 million.

3️⃣ Collaboration with ICE to introduce forex and precious metals data Chainlink has reached a strategic partnership with Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, to integrate the global foreign exchange and precious metals pricing data from ICE Consolidated Feed into Chainlink Data Streams. This move will provide services to over 2000 on-chain applications and financial institutions, promoting the development of institutional-level applications such as asset tokenization and automatic settlement, marking a further integration of the on-chain financial system with traditional markets.

From a technical perspective, the LINK price has recently shown a strong rise trend, breaking through previous highs. On the fundamental side, Chainlink continues to expand its influence in the blockchain infrastructure field, with collaborations with traditional financial institutions and the launch of new reserve plans, providing solid support for the long-term value of LINK.

This message is not intended as investment advice; investors should be aware of market volatility risks.