Chainlink (LINK) is experiencing quite a price surge amid a market-wide recovery. The asset is trading in the green zone across the board. LINK’s price has risen 14.7% in the last 24 hours, 12.5% in the weekly charts, 8.7% in the 14-day charts, 37% over the previous month, and 90% since August 2024, according to CoinGekco’s LINK data.
Chainlink Rallies Amid Reserve Announcement
LINK’s latest upswing comes amid the project announcing the launch of the Chainlink Reserve. The reserve is designed to support long-term growth and sustainability of the Chainlink Network. The reserve will accumulate LINK tokens using off-chain revenue from large enterprises. The early stage of the reserve has already accumulated over $1 million worth of LINK. The team does not anticipate any withdrawals from the reserve over several years.
Will the Asset Hit $25 Next?
Chainlink (LINK) rallies as the global trade front is at a loss. The cryptocurrency market is experiencing a rebound despite economic uncertainty. The rally could be due to President Trump allowing retirement funds to accept crypto.
Trump has also placed a key aide, Stephen Miran, on the Federal Reserve Board of Governors. Many anticipate the move as a way for Trump to push for an interest rate cut at the earliest. A rate cut could lead to investors taking on more risks as borrowing becomes easier.
If the market rally continues, LINK could breach the $25 mark over the coming weeks. A rate cut could lead to a prolonged market rally. However, economic uncertainties and the ongoing trade wars may present substantial barriers.
Also Read: Chainlink LINK Price Prediction: Surge Incoming After Turkey Deal?
According to CoinCodex Chainlink data, LINK will breach the $10 mark in late October of this year. The platform anticipates LINK to trade at $25.11 on Oct. 31.
Hitting $25.11 from current price levels will entail a rally of about 33.42%.