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LINK has surged over 50% in the past two weeks, possibly driven by positive factors such as the LINK Reserves Program and on-chain whale accumulation of LINK.
BlockBeats News, August 18th, according to HTX market data, LINK has surged over 50% in the past two weeks, now trading at $25.1.
Chainlink launched the "LINK Reserve Fund Program" in early August, converting on-chain oracle network revenue and off-chain enterprise service fees into LINK token reserves proportionally. The reserve fund has surpassed a million dollars, and in the long term, it will create a supply shock through a continuous buyback mechanism to strengthen the token's value-capture capability.
In addition, according to on-chain data, whales are consistently accumulating LINK, with four addresses accumulating 580,995 LINK in the past 24 hours, worth $13.86 million. Among them, the address "0x4EB" has accumulated a total of 721,294 LINK ($16.43 million). The number of large transactions for LINK has hit a seven-month high, indicating growing confidence from large investors in LINK.
Previously, on August 11th, Chainlink partnered with Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, to bring forex and precious metals pricing data onto the blockchain network. This collaboration will integrate ICE's "global comprehensive data source" into Chainlink's "data feed services."
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