Chainlink’s native token, LINK, rose to nearly $31 during Asian trading hours on Friday, reaching its highest level since early 2021.
Chainlink (LINK) Rises to 2021 Levels as World Liberty Financial Increases Its Holdings
The price increase came as open interest (OI) in LINK futures reached $860 million, signaling growing investor excitement.
The rally came after news that World Liberty Financial, a cryptocurrency platform backed by the Trump family, significantly increased its holdings in LINK.
The platform bought $1 million worth of LINK on Thursday, bringing its total LINK holdings to $2 million for the second day of purchases in a row.
It also added $246,000 worth of Aave (AAVE) tokens, bringing its total token holdings to $1.2 million.
LINK is currently the fourth-largest asset in World Liberty Financial's portfolio, behind Ether (ETH), Bitcoin (BTC), and Tether (USDT).
Why Is World Liberty Financial Buying LINK?
World Liberty Financial is leveraging Chainlink’s oracle services to develop its platform that offers cryptocurrency lending, borrowing, and stablecoin transactions.
Chainlink provides the platform with:
Real-time pricing data.
Cross-chain interoperability infrastructure.
Chainlink’s oracles connect blockchains to real-world data and external systems, making their services essential for decentralized finance (DeFi) platforms.
LINK tokens are used to compensate Chainlink node operators, tying the utility of the token directly to platform adoption.
The market has responded positively to World Liberty Financial’s investment. LINK prices have increased by 22% in the past week and are up more than 130% since World Liberty Financial began using Chainlink’s services.
With LINK reclaiming its 2021 highs and increasing adoption of Chainlink’s services, the token looks set to gain sustainable momentum in the evolving DeFi and crypto landscape.
*This is not investment advice.
