Chainlink Volume Surges 77% on Cardano, U.S. Commerce Pact
Chainlink price dipped to $22.74, marking a 3.4% drop, while trading volume surged 77% to $1.24 billion, suggesting accumulation as traders buy the dip. Short-term resistance lies between $25 and $28.
Cardano plans to integrate Chainlink oracles, which could boost DeFi liquidity on the Cardano network. Reliable real-time data feeds will enable more complex smart contracts, potentially attracting increased total value locked (TVL) and driving demand for LINK.
Chainlink’s partnership with the U.S. Department of Commerce to deliver Bureau of Economic Analysis data underscores its institutional credibility. This collaboration validates Chainlink’s enterprise use cases and may encourage large holders to add positions. Traders should monitor volume spikes, on-chain inflows and large-holder activity for signs of a rebound toward the $28 resistance.
Bullish
A 77% surge in trading volume on a price dip indicates strong accumulation, a typical precursor to a rebound. Cardano integration expands LINK’s oracle use cases and could materially increase on-chain liquidity and TVL on Cardano. The U.S. Department of Commerce partnership provides institutional validation, often attracting large-holder inflows. Similar volume spikes during previous dips preceded swift recoveries in LINK price. In the short term, traders may test the $25–$28 resistance zone. Over the long term, enhanced enterprise and DeFi adoption via these partnerships can underpin sustained demand and price appreciation.