Chainlink Activity Hits 8-Month High, Is $100 LINK Price Possible?

Key Insights

• More than 280,000 active addresses of major DeFi protocols migrated their infrastructure to Chainlink CCIP.
• Whale accumulation remains strong, with large LINK holders adding nearly 33 million tokens over the past month.
• Growing institutional adoption through spot LINK ETFs, with some analysts projecting potential upside toward $50 and $100.

Chainlink (LINK) has been dominating the market activity recently. On-chain data shows that the total number of LINK addresses has hit its 8-month high recently. Over the past week, the LINK price has seen a sustained move over $10.5, with analysts predicting further upside to $50 in the next bull run.

Chainlink Address Activity Hits 8-Month High

Blockchain analytics firm Santiment reported that Chainlink recorded its two highest address activity days in the past eight months. This shows a sharp surge in the protocol usage.

According to the firm, 282,170 unique LINK addresses were active on May 9, followed by 264,090 active addresses on May 10. The network had not seen similar activity levels since September 2025.

As per Santiment analysts, the surge followed major infrastructure migration announcements involving Solv Protocol and Kelp DAO.

On May 7, Solv Protocol announced plans to migrate more than $700 million in tokenized Bitcoin assets, from LayerZero to Chainlink CCIP. Similarly Kelp DAO had also previously announced plans to migrate its rsETH infrastructure to Chainlink CCIP.

Santiment noted that the increase in network activity reflects genuine protocol. As per the analytics firm, a strong rise in real network usage have often led to a sustained LINK price upside.

The report also highlighted continued whale accumulation for LINK tokens. It notes that wallets holding between 100,000 and 10 million LINK accumulated 32.93 million tokens over the past 30 days.

LINK Holds Breakout Structure Above Resistance

Popular analyst Quinten said that several altcoins are showing bullish set up, while highlighting LINK specifically. According to the analyst, LINK recently broke out of a long term accumulation range. As of now, the LINK price is in the process of retesting its previous resistance zone as support.

Quinten noted that if the retest holds successfully, the setup could support another leg higher for the asset.

Another analyst CRYPTOWZRD shared a bullish technical outlook on Chainlink. He added that the LINK price could ontinue moving higher toward the $12 level on the daily chart.

The analyst noted that LINK closed the latest session with indecisive price action. However, the broader daily structure still points toward additional upside potential.

On lower timeframes, CRYPTOWZRD said market conditions remain positive, but a stronger chart structure is still needed to confirm sustained momentum. According to the analysis, a healthy bullish continuation move could trigger the next impulsive rally phase for LINK.

Can LINK Price Rally to $50-$100?

Crypto Patel highlighted growing institutional adoption and long term bullish sentiment around Chainlink. The analyst pointed to previous market skepticism around LINK, noting that the asset eventually climbed above $50 despite earlier doubts from investors.

Crypto Patel also noted that U.S. spot LINK ETFs have reportedly attracted more than $113 million within five months. It shows increasing institutional participation in the asset.

According to the analyst, the $6 to $9 range remains a key long term accumulation zone. He also gave future upside targets of $50 and $100.

The analyst added that LINK has already gained approximately 44% from the initial accumulation range.

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