Chainlink LINK Soars 10% on ICE Partnership and Buyback Initiative

Generated by AI AgentCoin World
Tuesday, Aug 12, 2025 4:16 pm ET1min read
ICE
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LINK
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Aime RobotAime Summary

- Chainlink’s LINK token surged 10% in 24 hours, hitting a seven-month high with a 42% weekly gain, becoming the top-performing asset among top 50 cryptocurrencies.

- The rally was driven by a partnership with ICE (NYSE parent) to integrate forex/metal pricing data on-chain and a new buyback initiative using enterprise revenue to reinforce token value.

- Technical analysis shows bullish momentum with LINK above key moving averages, nearing $24 resistance, and an RSI of 72.72 signaling potential short-term consolidation before further gains.

Chainlink’s native token,

LINK
, surged 10% in 24 hours on Tuesday, reaching a seven-month high and extending its weekly gains to 42%. The rise makes LINK the top-performing asset among the top 50 cryptocurrencies by market capitalization over the past week [1]. The rally was driven by a strategic partnership between
Chainlink
and
Intercontinental Exchange
(ICE), the parent company of the New York Stock Exchange, to integrate foreign exchange and precious metals pricing data on-chain. This collaboration highlights Chainlink’s growing role in connecting traditional financial markets with blockchain infrastructure [1].

Additionally, a token buyback initiative called the Chainlink Reserve was announced, which aims to use revenue from Chainlink’s enterprise integrations and service offerings to purchase and convert them into LINK tokens. The initiative is expected to create sustained buying pressure and reinforce long-term value for token holders [1]. Whale activity and institutional support also contributed to the surge, with record trading volumes observed during the rally [1].

Technical indicators from CoinDesk’s market analysis model suggest that LINK is showing strong bullish momentum. The token is currently trading above both its 50-day and 200-day moving averages, a sign of positive trend continuation [1]. Near-term resistance levels have emerged around $24, with support estimated between $21.00 and $21.30. The relative strength index (RSI) for LINK is approaching overbought territory at 72.72, indicating that a short-term consolidation phase could follow before the next potential upward move [1].

A breakout above the $24.10–$24.13 resistance zone would likely confirm the continuation of the upward trend and potentially unlock the next phase of gains [1].

Source: [1] LINK Surges 10% as Chainlink Reserve, ICE Partnership Fuel Explosive Rally

(https://www.coindesk.com/markets/2025/08/12/link-surges-10-as-chainlink-reserve-ice-partnership-fuel-explosive-rally)

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