Chainlink (LINK) Shatters Multi-Month Consolidation, Surges Past $9.56

Chainlink (LINK) has broken free from its multi-month consolidation pattern by surging past $9.56 on August 15, marking an 8% gain for the day and a 15% increase over the previous seven days.

The surge in price was accompanied by a significant jump in derivatives open interest, reaching $694 million with trading volumes exceeding $1 billion, a 123% spike from the previous day.

Bitwise's Chainlink ETF saw net inflows of $1.5 million over the past week, highlighting growing investor recognition of Chainlink's critical role within decentralized finance infrastructure.