Chainlink Price Soars on Institutional Demand, Partnerships, and Derivatives Sentiment

Chainlink (LINK) is trading above $13.40, up more than 7% this week, and its price may continue to rise due to three key factors.

The first factor is strengthening institutional demand, with SoSoValue data showing spot ETFs have seen inflows for the third straight week, reaching $5.04 million through Thursday.

Another factor is improving derivatives positioning, as Coinglass's funding rates for LINK turned positive on Wednesday and surged to 0.0098% on Friday, indicating longs are paying shorts.

The third factor is expanding strategic partnerships, with Chainlink announcing a partnership with Infosys, a global IT leader with a market cap over $40 billion, which will standardize the adoption of the Chainlink platform.