• Chainlink’s native token LINK surged above $12.50, reaching its highest price since April 2022.
• LINK has gained 65% in the past 30 days, currently trading at approximately $12.59.
• The number of wallets holding at least 1,000 LINK surpassed 27,000, a record high.

Chainlink (LINK) has surged past the $12.50 level this weekend to hit its highest price since April 2022. The decentralized Oracle network’s token has mounted a significant rally, reflecting improving sentiment.

LINK now trades around $12.59, having gained 65% over the past 30 days, per CoinGecko data. The powerful move comes as the number of wallets holding at least 1,000 LINK reached a record high above 27,000.

Chainlink looks bullish

The technical picture and on-chain activity point to a bullish outlook for Chainlink. TradingView charts show LINK surging above its 50-day and 200-day moving averages, signaling momentum.

The moving averages are fanning out in a bullish crossover pattern, and trading volumes have spiked. This liquidity influx suggests room to test further upside resistances as technicals align positively.

Glassnode data also indicates the LINK price uptrend is aligned with growth in addresses holding non-zero balances, reflecting increased network adoption. A whale recently acquired over 300,000 LINK worth $3.8 million.

Fundamentals may also be driving interest, including Chainlink’s planned staking upgrade to enhance incentives and rewards. Additionally, adoption of Chainlink’s Cross-Chain Interoperability Protocol continues to rise.

The recent LINK price breakout demonstrates Chainlink’s solid technical position and ongoing real-world traction. As the Oracle network cements itself further in DeFi and traditional finance, LINK seems poised to capitalize on its bullish momentum.