LINK Jumps 4% as Chainlink Launches Data Streams for U.S. Stocks and ETFs

The price of LINK (LINK), the native token of oracle provider Chainlink, rose by 4% on Monday, continuing its rebound from last week’s crypto turmoil.

The token reached $17 during the session, nearly 10% higher than the weekend lows, according to data.

This increase coincided with Chainlink’s rollout of a market data feed for U.S. Equities and ETFs, designed to bridge traditional financial instruments with on-chain capital markets. Chainlink Data Streams now offer “real-time, high-throughput pricing” for assets like SPY, QQQ, NVDA, AAPL, MSFT, and other instruments across 37 blockchain networks. This feature supports use cases such as tokenized stock trading, perpetual futures, and synthetic ETFs on blockchain platforms.

Solana-based DeFi protocol Kamino and decentralized perpetuals trading venue GMX have already begun utilizing the service.

“This is a significant leap forward for tokenized markets — closing a critical gap between traditional finance and blockchain infrastructure,” stated Johann Eid, Chief Business Officer at Chainlink Labs.

Technical Analysis Shows Strong Momentum

LINK demonstrated impressive bullish performance during the 24-hour trading session, rising from $16.16 to $16.87, resulting in a robust 4.39% gain, based on RialCenter’s technical analysis model.

This sustained upward momentum, characterized by progressively higher lows and consistently above-average volume during rally phases, suggests ongoing bullish market sentiment with strong potential for further gains targeting the $17.00 psychological threshold, according to the model.

Technical Indicators

• Initial support established at $16.11, marking the session’s lowest point during the 24-hour period.
• High-volume support confirmed at $16.29 during the midnight UTC surge with notable trading activity.
• Key resistance formed at $16.87, supported by strong volume confirmation and multiple test attempts.
• Volume spiked to 1,533,754 units during the 4 August 13:00 hour, nearly tripling the average volume.
• Breakout pattern confirmed from $16.65 to $16.83, establishing a critical resistance turned support level.
• Higher lows pattern maintained throughout the rally, indicating sustained bullish momentum.
• Volume confirmation above 30,000 units during key rally phases supports upward price action.

Disclaimer: Parts of this article were generated with the assistance of AI tools and reviewed by our editorial team to ensure accuracy and adherence to standards. For more information, see RialCenter’s full AI Policy.