TL;DR
- Chainlink’s LINK token surged over 7%, reaching $19, highest since February.
- LINK joins the SEC’s Cryptoasset Working Group to shape compliant tokenization frameworks.
- Chainlink Labs emphasizes its role in bridging blockchain and off-chain data for regulatory compliance.
- Technical analysis shows LINK consolidating near $18.25-$18.55, with bullish momentum likely to continue.
Chainlink’s LINK Surges Amid Altcoin Rally and Regulatory Developments
Chainlink’s native token, LINK, rose more than 7% within 24 hours, hitting $19 — its strongest level since February. This price jump coincided with a broader altcoin market rally, fueled by recent U.S. cryptocurrency legislation advancing regulatory clarity for digital assets.
Chainlink serves as a critical oracle service, connecting blockchains to external datasets essential for processes like asset tokenization. The growing demand for trusted data infrastructure underpins LINK’s rising prominence in the crypto ecosystem.
Chainlink Joins SEC’s Cryptoasset Working Group
On July 17, Chainlink Labs announced it had been accepted into the U.S. Securities and Exchange Commission’s (SEC) Cryptoasset Working Group, joining four other digital asset projects in developing regulatory-compliant tokenization standards.
In a post on X (formerly Twitter), Chainlink emphasized the importance of compliance:
“For the blockchain industry to reach its full potential and access institutional capital, regulatory compliance is critical. Only Chainlink offers the compliance, privacy, cross-chain interoperability, and data infrastructure necessary to scale digital asset adoption on a single platform.”
Technical Analysis: LINK Consolidation and Uptrend Outlook
CoinDesk’s analytical model highlights the following key observations regarding LINK’s price movement:
- LINK climbed from $17.25 to a high of $19.12 before settling near $18.43 between July 17–18.
- A volume-backed resistance level was established near $19.12, with support consolidating around $18.33.
- The token is currently consolidating tightly between $18.25 and $18.55, indicating a likely continuation of the bullish trend after this corrective phase.
- Major resistance points are near $18.90 and $19.12, while support holds strong at $18.25 and $17.65.
- Price action supports the sustained upward momentum, with LINK defending the support zone effectively.
What This Means for Chainlink and the Crypto Market
Chainlink’s inclusion in the SEC’s working group underscores its central role in enabling regulatory-compliant digital asset tokenization — a critical step for bridging institutional finance and decentralized technologies.
The price action and market sentiment around LINK reflect growing confidence in the project’s capacity to meet increasing regulatory demands while maintaining its technological edge.
