Chainlink prices soar, with trading volume surging in tandem with futures activity

Quick overview of article highlights

Chainlink prices are supported by both trading and ETF capital inflows. LINK traders are focusing on the pullback entry point and the $11 target.

Chainlink prices rose 8.2% to US$9.47.

Spot daily trading volume increased 114.89%, pushing LINK's weekly gain to 13.48%. Open interest in LINK futures rose 15% to $685.97 million, and daily derivatives trading volume surged 140% to $973.04 million. The number of Chainlink holders reached a record high of 3.96 million; the number of active addresses doubled to 4800; and the volume of large-value transactions increased significantly online.

Analysts suggest: Focus on pullbacks rather than chasing highs

Analyst Michaël van de Poppe prefers to enter below $9.20 or $8.60 rather than chasing highs LINK, pointing to $10.87 and $11 as resistance levels. On August 15, Chainlink prices jumped 8.2% to $9.47, outperforming large cryptocurrencies amid market fluctuations. LINK gained 13.48% in seven days, with spot trading volume and derivatives activity expanding significantly. Daily trading volume increased 114.89% to US$515.84 million, and the market value reached US$7.09 billion. Open interest in futures rose 15% to US$685.97 million, indicating increased participation in active contracts. Van de Poppe described LINK's trend as "excellent" but advised traders not to chase gains. Instead, he sees a correction below $9.20 or $8.60 as a potential entry point, depending on how Bitcoin moves next towards support.

Chainlink prices are supported by trading and ETF inflows

Chainlink's price first approached $9 was around $8.85, and the transaction volume was $241.3 million at the time. LINK is now trading at US$9.47, with daily trading volume exceeding US$515 million. This change shows that market participation has increased rapidly as traders respond to breakthrough attempts. Derivatives activity has increased in tandem with spot demand. Data showed that futures trading volume reached US$973.04 million after an increase of 140%. Open interest reached US$685.97 million, adding leverage and liquidity to price fluctuations. A rise in open interest can support momentum, but may also increase the risk of liquidation in the event of a sudden reversal. Analyst Ali Martinez reported that the number of Chainlink holders hit a record high of 3.96 million. The number of active addresses has also doubled from approximately 2450 to 4800. These data indicate broader participation, but do not reveal whether large wallets are buying or selling tokens. Chainlink is down 83.4% from its all-time high of $53 in May 2021. However, the number of global holders of the network has just reached a historical record of 3.96 million. Now, prices are starting to flash bullish signals. It's time to pay attention! Large transactions (over $1 million) have increased recently. This whale activity attracted attention when LINK challenged nearby resistance levels. However, without the support of capital flow data, it is impossible to distinguish between investment and distribution based on the transaction size alone. Traditional investment products also show demand. Bitwise CEO Hunter Horsley reported that the company's Chainlink ETF received approximately $1.5 million weekly inflows. These inflows occurred during a period of weakness in the broader cryptocurrency market, providing another source of interest for LINK's exposure. Chainlink connects smart contracts with external prices, records and other real-world data. This role supports its application in decentralized finance and tokenized assets. Current active market activity puts Chainlink prices near an area that previously limited gains. This test may determine the direction of its next move.

LINK Traders Focus on Callback Entry Point and US$11 Target

Van de Poppe expected two possible trading settings rather than an immediate entry. His first scenario depends on Bitcoin's shallow sweep of recent lows. If Bitcoin avoids a deeper fall towards $61,000, LINK could fall below $9.20. He sees the area as a possible entry point for moving towards $11. LINK looks excellent. However, he will not chase after the rise here. Personally, he will focus on two scenarios: 1. If the market remained as it was and Bitcoin only made a slight sweep of lows rather than falling to $61,000, we might see prices below $9.20... His second scenario assumes broader cryptocurrency weakness. Under this setting, analysts would consider opening long positions below $8.60 and holding to the same $11 target. Chainlink prices currently face structural resistance around $10.87, close to analysts 'targets. Breaking through this resistance will clear recent range highs. The Relative Strength Index (RSI) reached 71.89, placing LINK in what is often considered overbought territory. A high RSI reflects strong momentum, but may also signal cooling or sideways consolidation. LINK has formed three large bullish daily lines. Another indicator also supports Chainlink prices. LINK's market value to realized value ratio (MVRV) exceeded its 200-day moving average for the first time in more than a year. Similar MVRV gold crosses predicted a 155% increase in November 2024 and an 85% increase in July 2025. These historical results provide background references rather than predictions. Market structure, Bitcoin direction and leverage levels vary from cycle to cycle. Despite recent gains, Chainlink prices are still down 82% from their all-time high of approximately $53 in May 2021. A blockage near $9.90 or $10.87 could bring market attention back to Van de Poppe's entry area. Conversely, a solid daily close above resistance will shift the focus to $11. Futures positions can amplify any outcome, especially if Bitcoin breaks through the current range during volatile trading hours.