Chainlink's LINK token traded near $13.93 after gaining roughly 5% over the past 24 hours, extending a September recovery that has carried it well clear of its mid-month lows. The token reached an intraday high near $14.18 as trading volume climbed above $870 million.

The gain came as the Chainlink Reserve crossed 6 million LINK after adding 373,791 tokens worth more than $4.3 million this month, and as attention returned to the protocol's recently announced partnership with Indian IT services giant Infosys, whose banking platform supports 1.7 billion accounts.

Market participants are also monitoring whether LINK can maintain its recent breakout above the $13.69 area. The token needs to sustain that breakout in order to continue with further upside, analysts say.

Chainlink Price Roadmap to $100 Is Intact

From the September 16 low of $10, the Chainlink price has already gained 40%, and trading volumes have seen a healthy uptick, a sign the momentum is likely to continue.

Crypto analyst Crypto Patel said on X that Chainlink (LINK) has gained 90% from the entry zone he identified, reaching the first target of $13.69. His broader roadmap of subsequent targets remains $20, $50 and $100. That $13.69 mark, initially flagged as the first target, now serves as the breakout level market participants are monitoring.

LINK is now retesting a higher-timeframe trendline that broke down near $12 in January. According to Crypto Patel, a breakout and sustained hold above that trendline could open the way toward $20, followed by $50 and $100. A rejection, however, could lead to a retracement toward $10, which the analyst identified as a potential re-entry zone.

Large institutional players are also constructive on Chainlink over the long term. Standard Chartered is already bullish, with analysts at the bank projecting the LINK price is likely to reach $200 by 2030.

Chainlink Reserve Surpasses 6 Million LINK, CCIP Secures $82.39 Billion

Beyond the price rally, Chainlink's fundamentals have also been improving. So far in September, the Chainlink Reserve has added 373,791 LINK worth more than $4.3 million, pushing total holdings past 6.04 million LINK.

The Reserve converts off-chain revenue from enterprise clients and on-chain fees generated through service usage into LINK. That structure ties Reserve growth directly to enterprise adoption and on-chain service usage. It held 3.06 million LINK at the end of the first quarter, meaning its holdings have nearly doubled over the past six months.

Meanwhile, Chainlink's Cross-Chain Interoperability Protocol (CCIP) now secures $82.39 billion worth of cross-chain tokens, reflecting the protocol's growing role in cross-chain infrastructure.

Chainlink Address Activity Jumps After Infosys Deal

In the latest development, Chainlink announced a partnership with Infosys, whose banking platform supports 1.7 billion accounts. Together, the two companies aim to bridge blockchain and traditional finance by helping banks connect their existing systems to blockchain-based markets using LINK infrastructure.

The partnership adds Infosys to a growing list of major institutions associated with Chainlink — spanning payments messaging, banking, card networks and post-trade market infrastructure — including Swift, UBS, Mastercard and DTCC. The announcement also triggered a quick surge in LINK address activity.

On-chain data showed 1,344 new LINK addresses created on the day of the announcement — a metric often tracked as a gauge of fresh on-chain participation. The September 22 figure was approximately 19% above the monthly average. Since August 1, only 11 days have recorded higher address growth, with the peak of 1,929 new addresses occurring on August 21.

Researchers at Santiment noted that although the partnership drew significant attention, the announcement named no specific bank and provided no timeline. With no named bank or rollout schedule, further details on the partnership's implementation remain a point to watch.
This article is for informational purposes only and does not constitute financial or investment advice. Analyst price targets are projections and may not materialize.

Source: The Market Periodical