Key Takeaways:
- Derivatives Surge Indicates Market Optimism: LINK’s 55.6% spike in derivatives volume and 13.1% rise in open interest highlight growing trader and institutional confidence.
- Real-World Adoption Expands Globally: Chainlink’s role in Hong Kong’s CBDC pilot and cross-chain integrations with 16 blockchains showcase its accelerating global relevance.
Chainlink (LINK) is making headlines as its derivatives market heats up, fueled by increased investor confidence and real-world utility. Over the past 24 hours, LINK recorded $907.35 million in derivatives trading volume—up over 55.6%—while open interest climbed by 13.1% to reach $643.3 million. These metrics point to growing institutional and retail interest in LINK’s near-term price movement
The long/short ratio of 1.0321 indicates a slight bullish leaning among traders. LINK is currently priced at $14.54, showing a 6.79% gain in 24 hours and 2.80% over the past week. With a market cap of $9.56 billion and a spot volume of $321.7 million, analysts suggest LINK could retest its May 29 high of $16, with resistance at $19. However, if momentum weakens, $12 remains a strong support level. Notably, the Relative Strength Index (RSI) sits at 47.96—neutral territory—leaving room for further volatility in either direction.
Chainlink Powers Hong Kong’s CBDC Pilot and Global Interoperability
Beyond price action, Chainlink’s utility continues to grow. The platform plays a critical role in Hong Kong’s e-HKD+ Pilot Program, facilitating cross-border transfers between the Hong Kong digital dollar (e-HKD) and an Australian dollar stablecoin. This is enabled through Chainlink’s Cross-Chain Interoperability Protocol (CCIP), which ensures secure and seamless blockchain communication.
Chainlink is also deploying compliance modules such as Cross-Chain Identity (CCID)—helping verify off-chain identities in a decentralized system. These innovations are backed by major financial entities, including Visa, ANZ Bank, Fidelity International, and China AMC.
Also Read: Chainlink (LINK) Poised for Next Bullish Impulse: Will $15.30 Breakout Spark a Rally to $20?
In addition, Chainlink recently joined the Global Synchronizer Foundation (GSF), positioning itself to shape interoperability standards for global financial systems. The protocol also launched integrations with 16 blockchains—including Ethereum, Solana, Polygon, Avalanche, Arbitrum, and ZKsync—solidifying its position as a core infrastructure player in the blockchain ecosystem.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
