Chainlink (LINK) shows bullish momentum as reserves exceed 6 million coins

Chainlink (LINK) has shown significant market momentum, with the token price trading near $13.93 following a 5% increase over 24 hours. Analysts note that the price has gained 40% since its September low of $10. Technical analysis suggests that if LINK can maintain its position above the $13.69 level and the protected low of $10.62, it may target price points of $20, $50, and eventually $100. Some long-term projections from institutions like Standard Chartered suggest the token could reach $200 by 2030.

Fundamental indicators for the project are also rising. The Chainlink Reserve added over 373,000 LINK in September, bringing total holdings to more than 6 million coins. Additionally, the project continues to expand its utility through partnerships, such as its collaboration with Infosys to bridge blockchain technology with traditional finance systems that support 1.7 billion accounts.