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Chainlink (LINK) Rises to 2021 Levels with Record High! Which Company Made the Purchase? Here are the Details
Chainlink's native token LINK rose to around $31 during Friday's Asian trading hours, reaching its highest level since the beginning of 2021.
Chainlink (LINK) Rises to 2021 Levels with World Liberty Financial's Asset Increase
The price increase occurred as a sign that the open interest (OI) in LINK futures reached $860 million, indicating an increase in investor excitement.
The rally came after news that World Liberty Financial, a cryptocurrency platform supported by the Trump family, significantly increased its assets in LINK.
On Thursday, the platform increased their total LINK assets to 2 million dollars by purchasing 1 million dollars worth of LINK on the second consecutive day of purchase.
In addition, by adding Aave (AAVE) tokens worth 246,000 dollars, it increased its total token assets to 1.2 million dollars.
LINK is currently the fourth largest asset in World Liberty Financial's portfolio, following Ether (ETH), Bitcoin (BTC), and Tether (USDT).
Why is World Liberty Financial Buying LINK?
World Liberty Financial is leveraging Chainlink's oracle services to enhance its platform, which offers cryptocurrency lending, borrowing, and stablecoin transactions.
The Chainlink platform provides the following:
Real-time pricing data.
Interoperability infrastructure between chains.
Chainlink's oracles make blockchains connect to real-world data and external systems, making their services essential for decentralized finance (DeFi) platforms.
LINK tokens are used to compensate Chainlink node operators and directly tie the token's utility to the platform's adoption.
The market has responded positively to World Liberty Financial's investments. LINK prices increased by 22% last week and have risen by over 130% since World Liberty Financial started using Chainlink's services.
With LINK reclaiming its highest levels in 2021 and the increasing adoption of Chainlink's services, the token appears ready to gain sustainable momentum in the evolving DeFi and cryptocurrency space.