Chainlink Price Soars on Strong Institutional Demand and Strategic Partnerships
Chainlink's price continued its upward trend on Friday, trading above $13.40 and up over 7% for the week.
The strengthening institutional demand is one of the key factors supporting this bullish price action. According to SoSoValue data, US-listed spot ETFs are on track for a third straight week of inflows, with $5.04 million recorded through Thursday.
Derivatives positioning also shows improving sentiment among Chainlink traders. Coinglass's funding rates for Chainlink flipped positive on Wednesday and surged to 0.0098% on Friday, indicating longs are paying shorts, reflecting a bullish outlook.
The expanding strategic partnerships between Chainlink and companies like Infosys, which supports critical banking and payments infrastructure for over 1.7 billion customer accounts worldwide, also supports the constructive outlook for LINK.