Chainlink Price Soars on Institutional Adoption and Tokenized Data Demand

Chainlink (LINK) has been on the rise after breaking above a descending trendline that had rejected every recovery attempt since May. The price of LINK is currently trading at $8.753, up 1.02%, with the MACD turning bullish and whale wallets controlling 46.57% of the supply.

The recent uptrend can be attributed to the successful live trade powered by Chainlink between DTCC and JPMorgan, along with CME Group, as part of Project Pangea. The project has brought on board over 50 banks, representing approximately $10 trillion in Assets Under Management (AUM), signaling major institutional adoption and tokenized Risk-Weighted Assets (RWA) use cases.

Standard Chartered backs a $200 LINK target with a fee model projecting 25x fee growth by 2030. This prediction is based on the increasing demand for tokenized RWA data, which could lead to significant price upside in the near term.