Chainlink (LINK) is trending in X as it gets closer to $30 for the first time since 2021, thanks to the whale activity and a big investment coming from Donald Trump’s decentralized finance (DeFi) platform, World Liberty Financial (WLFI)
According to a report shared by Lookonchain on X, World Liberty Financial (WLFI) purchased 41,335 LINK tokens for $1 million, paying an average of $24.2 per token. The project also made large investments in Ethereum (ETH) and Aave (AAVE), acquiring $10 million worth of ETH and $1 million in AAVE through its publicly tracked multisignature wallet. This large LINK investment soon caused ripples across the crypto market, pushing prices higher.
This made whales interested in taking action. An investor bought $4.94 million worth of LINK at an average price of $28.18. Bybit, one of the leading crypto exchanges, also reported $341.7 million in LINK-related trades, while overall open interest hit a record $656 million on December 12, with 70% long positions dominating major exchanges.
Shortly after WLFI purchase, LINKS price shot up by 20% and right now, the crypto is trading for $28.40, just $2 to cross the $30 milestone. Blockchain data from Etherscan also confirmed that the project’s purchase was the main contributor to the surge. It brought WLFI’s total crypto holdings to $747 million, which includes approximately 14,576 ETH valued at over $57 million.
Why so much hype surrounding LINK? WLFI’s interest in Link might be due to the fact that its portfolio holds $38.33 billion in assets for over 407 crypto projects.
Furthermore, the token is trusted by big players like Emirates NBD and is crucial for moving stablecoins like USDC across networks through its Cross-Chain Interoperability Protocol (CCIP). Over 90% of CCIP’s activities focuses on stablecoins, making it a backbone of DeFi operations.
Also WLFI used Chainlink’s service for data connections and aiming to better integrate with the wider crypto ecosystem.
According to Zach Rynes, a Chainlink community representative, “With Trump’s World Liberty Financial DeFi platform adopting the Chainlink standard for data and cross-chain connectivity earlier this year, the recent onchain purchase of $1M in LINK only further strengthens the long-term alignment between the two ecosystems.”
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