Chainlink nears $10 as institutional inflows and futures activity surge

Chainlink’s price climbed close to $10 on Thursday after a near 10% weekly gain. The surge followed a break above key resistance levels, drawing attention from traders and analysts alike. Meanwhile, network activity and institutional interest have both shown clear signs of growth. The cryptocurrency began the week with rising momentum. By Wednesday, spot LINK exchange-traded funds recorded $532,900 in inflows, marking a return of institutional participation. This uptick coincided with a broader increase in network engagement, as daily active addresses, transaction volume, and overall growth have steadily risen since early May.

On Thursday, Chainlink traded around $10.10, holding above its 50-day and 100-day exponential moving averages. However, it remained below the 200-day average, a level traders often watch closely. The relative strength index sat near 66 on the daily chart, nearing overbought conditions, while the moving average convergence divergence indicator stayed positive with expanding histogram bars. Futures market activity also picked up, with open interest jumping from $366 million on Sunday to $495.74 million by Thursday. This rise suggested fresh capital entering the market. Analysts kept a close eye on the $9.92 support area, which aligned with both a horizontal floor and the 38.2% Fibonacci retracement level. Beyond price action, Chainlink’s technology saw new adoption. State Street Investment Management and Galaxy Asset Management launched the State Street Galaxy Onchain Liquidity Sweep Fund, leveraging Chainlink’s NAVLink system and Cross Chain Interoperability Protocol.

Chainlink’s recent price movement reflects both technical strength and growing network activity. With institutional inflows and rising futures interest, the asset has maintained its position above critical moving averages. The coming days will likely see continued focus on whether it can sustain momentum or face resistance near key levels.