Chainlink’s LINK Token Soars 12% to Multi-Month High Following Powell Remarks, Protocol Buyback

Chainlink’s native token, LINK, surged 12% in the past 24 hours to reach $27.80, marking its highest price since December. The move came amid a broader crypto market rally spurred by Federal Reserve Chair Jerome Powell’s dovish comments at the Jackson Hole summit, which reignited risk appetite across digital assets.

Bitcoin (BTC) also climbed 3.5%, while the broader CoinDesk 20 Index rose 6.5%, as expectations for a potential interest rate cut in September gained traction.

The rally in LINK was further supported by bullish protocol-specific developments. Chainlink Labs announced it had secured two significant security certifications this week: ISO 27001 and SOC 2 Type 1 attestation, becoming the first blockchain oracle provider to obtain both. The audits, conducted by Deloitte, covered Chainlink’s core services including price feeds, proof-of-reserve mechanisms, and the Cross-Chain Interoperability Protocol (CCIP).

Chainlink stated that these certifications are expected to strengthen confidence in its infrastructure, particularly among institutional users such as banks, asset issuers, and DeFi platforms.

Additionally, the Chainlink Reserve—a protocol-linked entity that uses operational revenue to acquire LINK—purchased 41,000 LINK tokens on Thursday, worth approximately $1 million at the time of purchase. This brings the Reserve’s total holdings to 150,778 LINK, valued around $4.1 million at current prices.

Technical Outlook

• Support Level: Strong buy interest was observed around $24.15, backed by high-volume support.
• Resistance Breakout: LINK broke decisively through resistance at $25.00, $25.50, and $26.00, with institutional-grade volume confirming the move.
• Volume Surge: Trading volume spiked to 12.84 million, more than 5x the daily average of 2.44 million, signaling aggressive accumulation.
• Price Structure: A narrow consolidation zone between $24.70–$25.10 preceded the breakout, hinting at institutional positioning.
• Momentum Signals: Momentum indicators confirm a sustained, measured advance, bolstered by buy-side activity from corporate treasury arms and ecosystem-aligned reserves.