Chainlink Price Soars 18% as Whale Accumulation and RWA Growth Drive LINK Toward $29

Chainlink (LINK) has emerged as one of the strongest-performing altcoins of August, surging more than 18% in the past week and climbing above $25. The rally followed a decisive breakout over the $20–$21 resistance zone, a level that had capped gains for much of 2025.

The move was accompanied by a spike in trading volume and a close above the 200-day moving average, signaling robust momentum. Analysts now believe LINK could push toward the $29 mark, provided market conditions remain supportive.

Crypto analyst Emperor noted, “If Bitcoin holds $115,000 and LINK consolidates, I expect this to move toward $29.” While a retest of $20 remains a possibility in the event of broader altcoin weakness, the speed of the current breakout suggests that sharp declines are less likely in the near term.

Whale Accumulation Strengthens Bullish Outlook

On-chain data reveals that whale wallets have been aggressively accumulating LINK.

More than 1.1 million tokens, valued at approximately $27 million, were added to large addresses over the past week. Smart money wallets also boosted holdings by over 12%, reflecting growing confidence in the asset’s trajectory.

This surge in whale activity has helped solidify Chainlink’s recent gains. Analysts point out that renewed accumulation among the top 100 LINK wallets is a bullish sign, suggesting that institutional and high-net-worth investors see upside potential.

Chainlink Expands Role in Real-World Asset Tokenization

Beyond technical momentum, Chainlink’s growing footprint in real-world asset (RWA) tokenization is fueling investor interest. The project recently launched data feeds for U.S. equities and ETFs, reinforcing its reputation as the go-to infrastructure provider for institutional-grade oracles.

One industry analyst commented, “Chainlink is delivering exactly what institutions need for tokenized markets. The LINK era is here—this is just the beginning.”

Chainlink currently ranks first in RWA development activity, according to Santiment, underscoring its strategic role in bridging traditional finance and blockchain. With its price holding near multi-month highs and $29 emerging as the next critical resistance zone, LINK’s outlook remains firmly bullish as traders watch for the next breakout.