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Chainlink (LINK) is revisiting price levels not seen since 2021 as the token inches closer to the $30 mark. Recent on-chain analysis shows increasing whale activity with large wallets getting in at this price level.&nbsp; 
Chainlink (LINK) has become attractive to whale buyers as seen on recent on-chain data. In one transaction, a large-scale buyer acquired $4.94M of LINK tokens, at an average price of $28.18. The funds went through an intermediary wallet before landing in a high-balance holder’s wallet that has been active since November. 
LINK is now returning to levels not seen since 2021. The token has a unique trajectory, peaking in late 2020 at above $49. Since then, LINK has served as a utility token and has often gone counter to the market.&nbsp; 
In late 2024, LINK rallied along with other “dinosaur coins” after the launch of a brief altcoin season. LINK has always had a community of long-term holders, which has set up expectations for new all-time highs.&nbsp; 
LINK is one of the few tokens with both a strong appeal as a community and utility through its oracle services. The company continues to expand its portfolio of projects, setting up data for crypto insiders and a selection of TradFi clients. Chainlink secures data for 407 crypto entities, securing <a href="https://defillama.com/oracles" rel="nofollow noopener" target="_blank">$38.33B</a> in value.&nbsp; 
LINK is closely watched for its potential to chart at new highs toward the end of 2024 as it inches closer to new all-time highs.&nbsp; 
As of December 12, <a href="https://coinalyze.net/chainlink/open-interest/" rel="nofollow noopener" target="_blank">open interest</a> for LINK grew to an all-time high above $656M, with constant growth in the past few days. LINK retains 70% of long positions against an average of 30% for shorts on most leading crypto exchanges.&nbsp; 
The recent rise of LINK is also connected to Bybit’s recent breakout. Most LINK volumes have now moved to the rising exchange, with $341.7M in open interest on that market. LINK is also riding additional hype as it already climbed into the top 15 of coins and tokens by market capitalization.&nbsp; 
<h3 id="span-style-font-weight-400-chainlink-gains-from-oracle-service-partnerships-span">Chainlink gains from oracle service partnerships</h3> 
The recent rally is also in response to news that Donald Trump’s DeFi venture, World Liberty Financial, is <a href="https://www.cryptopolitan.com/trumps-new-venture-wlfi-buy-crypto/">acquiring LINK tokens</a> for its portfolio. World Liberty also acquired ETH and AAVE as part of its attempts to build a DeFi vault. World Liberty holds $1.15M worth of LINK or 41.33K tokens on a widely known public <a href="https://intel.arkm.com/explorer/entity/worldlibertyfi" rel="nofollow noopener" target="_blank">wallet</a>. 
World Liberty buys LINK as part of its <a href="https://x.com/chainlink/status/1867120879748125163" rel="nofollow" target="_blank">partnership</a> in using oracle services, going beyond short-term speculation. 
Chainlink has different appeal points in its relationshipe with its community and real-world financial entities. Recently, Chainlink became a part of the Digital Asset Board with Emirates NBD. Chainlink will add its expertise to already established board members PwC, Fireblocks, R3 and Chainalysis. 
The company with $260B in assets under management will explore Chainlink’s services for increased efficiency. Chainlink continues to test its digital data services and oracle connections to make traditional business processes more efficient.&nbsp; 
<h3 id="span-style-font-weight-400-chainlink-gets-boost-from-cross-chain-transfers-span">Chainlink gets boost from cross-chain transfers</h3> 
Chainlink’s main product in addition to its oracle services is the Cross-Chain Interoperability Protocol (CCIP). The protocol’s key asset is Circle’s USDC, considered a fully regulated and transparent asset.&nbsp; 
<figure id="attachment_626452" aria-describedby="caption-attachment-626452" style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" decoding="async" class="wp-image-626452 size-full" src="https://www.cryptopolitan.com/wp-content/uploads/2024/12/CCIPTokenDec122024.png" alt="Chainlink's CCIP carries mostly USDC and GHO as part of the Aave and other DeFi ecosystems. " width="905" height="388" srcset="https://www.cryptopolitan.com/wp-content/uploads/2024/12/CCIPTokenDec122024.png 905w, https://www.cryptopolitan.com/wp-content/uploads/2024/12/CCIPTokenDec122024-300x129.png 300w, https://www.cryptopolitan.com/wp-content/uploads/2024/12/CCIPTokenDec122024-768x329.png 768w" sizes="(max-width: 905px) 100vw, 905px">
 <figcaption id="caption-attachment-626452" class="wp-caption-text">
 Chainlink’s CCIP carries mostly USDC and GHO as part of the Aave and other DeFi ecosystems. | Source: <a href="https://dune.com/queries/3711765/6245443" rel="nofollow noopener" target="_blank">Dune Analytics</a>
 </figcaption>
</figure> 
More than 90% of the CCIP volumes are for stablecoins, one of the key growth areas of crypto usage. The two most common multi-chain transfers are for USDC and Aave’s GHO stablecoin. Chainlink is one of the main facilitators of the Aave lending vault ecosystem on multiple chains.&nbsp; 
CCIP also spread to the <a href="https://x.com/chainlink/status/1866847783858155824" rel="nofollow" target="_blank">Ronin Network</a>, one of the growing platforms for Web3 and gaming. Ronin’s community voted to migrate its cross-chain activity to CCIP and replace its current bridges. The Ronin Network was extremely successful but suffered a setback after one of its main bridges was hacked for upward of $600M. 
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Whales buy into Chainlink as LINK token rallies closer to $30

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