Chainlink SBI Partnership Boosts LINK Amid $875.7M Open Interest Surge

Chainlink’s recent strategic collaboration with Japan’s SBI Holdings has drawn attention from both the market and institutional participants, with potential implications for the price of LINK. The partnership aims to integrate Chainlink’s oracle technology into SBI’s on-chain services, initially in Japan and with plans for expansion across the Asia-Pacific region. This initiative supports institutional-grade use cases such as stablecoin reserve verification and tokenization of real-world assets, enhancing transparency and compliance for digital asset operations [1].

At the time of the announcement, market metrics for LINK showed strong bullish positioning. Open Interest in LINK derivatives reached $875.7 million, a significant figure indicating increased leveraged exposure and participation from institutional investors. Meanwhile, funding rates remained modest at 0.0142, suggesting that market participants are approaching the asset with caution, avoiding excessive leverage [1]. These factors together point to a measured but optimistic sentiment in the derivatives market.

Technically, LINK was trading near $25.79 at the time, with its price above both the 9-day and 21-day simple moving averages. The Relative Strength Index (RSI) stood at around 64, indicating ongoing buying pressure without signs of overextension. Additionally, the Moving Average Convergence Divergence (MACD) indicator remained above its signal line, reinforcing the bullish bias. However, recent candle patterns have shown some short-term hesitation, suggesting that traders may be watching for clearer directional signals [1].

Key price levels to monitor include a short-term resistance cluster around $27–$28 and a critical support level near $25. A successful breakout above $27 could signal renewed institutional demand, potentially triggering a more substantial upward move. Conversely, a breakdown below $25 would likely invite a retest of lower levels, especially if bullish momentum fails to materialize. Traders are advised to watch Open Interest and funding rate developments for confirmation of continued institutional participation [1].

This partnership aligns with broader industry trends, including Japan’s growing engagement with stablecoin frameworks and tokenization initiatives. SBI’s move with Chainlink complements recent collaborations involving other market leaders such as Circle and Ripple, supporting the country’s evolving digital asset regulatory landscape [1].

Ultimately, while the derivatives market plays a role in amplifying price movements, the long-term value of LINK is likely to be influenced by durable adoption and real-world use cases, such as those enabled by the SBI partnership. As such, the combination of strong technical indicators and institutional-grade infrastructure deployment positions LINK for potential upward movement, provided that market conditions continue to favor bullish positioning [1].

Source: [1] Chainlink’s SBI Partnership Could Support LINK Uptrend Amid Record Open Interest (https://en.coinotag.com/chainlinks-sbi-partnership-could-support-link-uptrend-amid-record-open-interest/)