LINK (Chainlink) rose 9.60% in 24 hours.

Gate News Bot news, on August 21, according to CoinMarketCap data, LINK (Chainlink) is currently priced at 26.30 USD, with a 9.60% rise in the last 24 hours, reaching a high of 26.86 USD and a low of 21.44 USD. The 24-hour volume has reached 2.973 billion USD. The current market capitalization is approximately 17.837 billion USD, an increase of 1.562 billion USD compared to yesterday.

Chainlink is the backbone network of blockchain. Chainlink is the only platform that can connect reliable data, cross-chain interoperability, and decentralized computing for financial institutions and blockchain, providing the necessary infrastructure for advanced on-chain applications. Chainlink is trusted by global institutions such as Swift, Euroclear, Mastercard, and Fidelity, and has supported trillions of dollars in on-chain transactions, covering tokenized assets, DeFi, and capital markets.

Important news about LINK recently:

1️⃣ LINK Reserve Fund Plan Drives Token Value Chainlink launched the "LINK Reserve Fund Program" in early August, converting on-chain oracle network revenue and off-chain enterprise service revenue into LINK token reserves at a proportional rate. Currently, the reserve scale has exceeded one million dollars, and in the long term, it will create supply shocks through a continuous buyback mechanism, enhancing the token's value capture ability. Chainlink's strategic reserve added 44,109.76 LINK, bringing the total to 109,661.68 LINK, with a total value of 2.55 million dollars.

2️⃣ Large Capital Inflows and Institutional Layouts In the past 30 days, the net inflow of LINK on-chain reached 275,002 coins (approximately $6.65 million), with reserves on centralized exchanges dropping to an 18-month low. The proportion of holdings by large whales rose from 37% in June to 42%, indicating that institutional-level funds are accelerating their layout. A large account address recently purchased 938,489 LINK tokens worth approximately $21.23 million through multiple wallets, at an average price of $22.62. Additionally, a new wallet address withdrew 455,298 LINK from a centralized exchange within 4 hours, worth approximately $10.20 million.

3️⃣ Cooperation with ICE to introduce foreign exchange and precious metals data Chainlink has reached a strategic partnership with the Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, to integrate ICE Consolidated Feed's global foreign exchange and precious metals pricing data into Chainlink Data Streams. This move will provide services to over 2000 on-chain applications and financial institutions, promoting the development of institutional-level applications such as asset tokenization and automated settlement, marking a further integration of on-chain financial systems with traditional markets.

From a technical perspective, LINK price has recently shown a strong rise trend, breaking through previous highs. On the fundamental side, Chainlink continues to expand its influence in the blockchain infrastructure sector, and collaborations with traditional financial institutions, along with the launch of new reserve plans, provide solid support for LINK's long-term value.

This message is not intended as investment advice, and investors should be aware of market volatility risks.