Chainlink Surges After Partnering with Industry Giant ICE Markets

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Notably, on Monday, Chainlink announced a partnership with ICE Markets to bring high-quality forex and precious metals data on-chain. Using data from the ICE Consolidated Feed, Chainlink will calculate and deliver FX rates and precious metals prices directly to the network via Chainlink Data Streams, marking an important step in bridging on-chain finance with traditional markets.

Maurisa Baumann, Vice President of Global Data Delivery Platforms at ICE, stated: “With data from over 300 global exchanges and marketplaces, the ICE Consolidated Feed offers trusted, structured, multi-asset class data to banks, asset managers, and software providers worldwide. We are delighted to work with Chainlink to securely and reliably provide data for on-chain markets—an important step in expanding the global blockchain economy.”

In addition, last week Chainlink launched the Chainlink Reserve—a strategic LINK reserve pool designed to accumulate tokens from on-chain service revenue and enterprise integrations, further strengthening the project’s long-term growth outlook.

LINK Open Interest Nears All-Time High

According to data, LINK’s futures open interest (OI) across derivatives exchanges has surged from $814.5 million (August 6) to $1.21 billion today, just shy of its all-time high of $1.22 billion in January 2022. Rising OI generally indicates new capital flowing into the market, supporting ongoing bullish momentum.

However, traders should remain cautious, as last week’s 35% rally has prompted some investors to take profits. Data from Santiment shows the Network Realized Profit/Loss (NPL) metric spiking sharply on Monday, indicating that many holders are selling at significant gains—potentially increasing short-term selling pressure.

LINK Price Outlook

LINK is now testing the $22.05 resistance level, which coincides with the February 3 high. A breakout and close above this level could open the door for a move toward the next key resistance at $26.37. The RSI currently sits at 66 and is trending upward, reflecting strong bullish momentum. The MACD also formed a bullish crossover last week, signaling a continued uptrend.

On the downside, if a pullback occurs, LINK could find support around the $18.81 weekly level.

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