Key Highlights
- Chainlink rises 14.5% in seven days, climbing from around $12.13 to $15.42 before pulling back.
- CCIP 2.0 and institutional developments support the rally, with Chainlink also working on a connection with Swift’s blockchain ledger and powering DTCC’s Collateral AppChain.
- LINK approaches key price levels, with $18 acting as the next resistance and $20 becoming a possible target, while $15 remains an important support level.
Chainlink (LINK) has gained about 14.5% over the past seven days, with the token trading near $15 as of 3:57 p.m. UTC on September 29. According to CoinGecko, LINK reached an intraday high of $15.42 during the period after trading as low as $12.13 on September 24.
The move pushed LINK’s market capitalization to around $11.06 billion, while its 24-hour trading volume reached $1.23 billion.
This surge also followed through to the derivatives market, with its futures trading volume rising 53.64% to about $1.75 billion, according to data from Coinglass. Its open interest, which shows the value of active futures contracts, also increased 5.96% to about $860.74 million, as at 3:57 p.m. UTC on September 29.
What is driving LINK’s recent rally?
The price move came shortly after Chainlink launched CCIP 2.0 at Sibos 2026 on Monday. CCIP, or Cross-Chain Interoperability Protocol, is Chainlink’s system for helping different blockchains communicate and move information or assets between them.
The new CCIP 2.0 upgrade gives institutions more control over these cross-chain transactions. They can add independent transaction checkers, decide how quickly transfers should happen and include compliance checks.
In simple terms, the upgrade gives financial institutions more tools to control and check transactions when moving tokenized assets between different blockchain networks.
Chainlink moves closer to Swift blockchain connection
Chainlink also announced a solution to connect financial institutions to Swift’s blockchain ledger. Swift is the global network used by banks to communicate about international payments. Under the planned connection, Chainlink’s Runtime Environment would help coordinate bank workflows, while institutions would continue to control their transaction-signing keys.
Swift’s blockchain ledger is being designed to support cross-border payments involving tokenized deposits around the clock. However, the announcement did not give a date for when banks would start using the Chainlink connection.
DTCC brings Chainlink into 24-hour collateral management
The institutional activity did not stop there. Chainlink is also powering the Depository Trust & Clearing Corporation’s (DTCC) Collateral AppChain.
The system is designed to support 24-hour collateral management, meaning financial institutions can manage collateral continuously instead of being limited to traditional market hours.
“Chainlink is powering @The_DTCC’s Collateral AppChain, bringing 24/7 collateral management to the backbone of global post-trade infrastructure,” Chainlink community advocate Zach Rynes wrote on X.
ETF inflows add more interest around LINK
ETF activity has also been adding to the recent attention around LINK. According to data from SosoValue, LINK-focused ETFs recorded $2.41 million in inflows on Monday after taking in $6.27 million the previous week.
The funds have now recorded positive flows for three straight weeks, showing continued money entering products that track the token.
LINK targets $18 resistance on its way to $20
As the rally continued, traders began watching the next major price levels. According to data from TradingView.
LINK reached $15.19 on Tuesday after climbing from around $14 and briefly moved close to $15.75 before pulling back. The token is now approaching a resistance level at $18, which could push the price to around $20.
For LINK to reach $20, the token would first need to move above its recent high and then clear the $18 level. On the other hand, a drop below $15 could weaken the recent move and bring the $14 support level into view.
At the same time, the four-hour Relative Strength Index (RSI) stood at 66.33, which means price is approaching an overbought level but still has space to surge.
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