Chainlink Price Surges Amidst World Liberty Financial Investment and Potential Cardano Partnership

Chainlink has seen significant growth, reaching its highest level since December 18, with a market valuation of $16.7 billion, following a substantial investment by World Liberty Financial, a company associated with Donald Trump. The Chainlink price has increased by 46% from its lowest level this year, reaching $26.87.

World Liberty Financial’s Investment in Chainlink

Nansen data reveals that World Liberty Financial (WLFI) has purchased additional LINK tokens worth $4.6 million, bringing the total value of its Chainlink holdings to over $6.6 million. WLFI’s portfolio also includes Ethereum tokens worth $179 million, alongside other assets like USD Coin, Tether, Wrapped Bitcoin, AAVE, Ethena, and Tron, with a total value exceeding $322 million.

WLFI’s investment in Chainlink could have a positive impact on the token’s price, particularly with the Trump administration’s potential influence on regulatory developments in the crypto space. Trump’s crypto advisory council and nomination of Paul Atkins to head the Securities and Exchange Commission (SEC) could lead to favorable regulations, such as the potential approval of a spot Chainlink ETF.

Potential Collaboration with Cardano

Chainlink’s price surge has also been attributed to a potential collaboration with Cardano, hinted at by Cardano founder Charles Hoskinson. Hoskinson expressed his intention to forge more partnerships this year and confirmed a meeting with Chainlink, which could lead to joint ventures in industries like decentralized finance and Real World Asset tokenization.

Now that we have governance moving along really well, this year I’m going to focus deeply on three big themes for Cardano: 1) Bitcoin DeFi on Cardano (Market is 4 times the size of Ethereum and Solana combined) 2) 24/7 work on scalability, including Leios 3) Making Cardano a…

Signs of LINK Tokens Leaving Exchanges

Data from Coinglass shows that Chainlink exchange balances have continued to decline, reaching their lowest levels since December 20. This could be a bullish sign for the token’s price, as it may indicate a decrease in selling pressure.

Chainlink Price Analysis

The daily chart suggests further LINK gains in the weeks ahead. The token has broken above the crucial resistance level at $22.87, its March 2024 high, and the upper boundary of the cup and handle pattern. Based on this pattern, the coin is likely to target $37.

As the Chainlink price continues to surge, it’s essential for investors to stay informed about market developments and potential regulatory changes. For more news and updates on the crypto market, visit Global Crypto News.

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