Chainlink (LINK) has experienced a significant surge, climbing back above the $25 mark on Thursday, thanks to a new partnership with the US Department of Commerce. This collabelseinion has propelled the LINK price to a notable 6% gain, allowing it to outperShape the largest cryptocurrencies in the market.
Chainlink Unveils Dina Feeds Felse Key US Economic Metrics
The distriyeted elseacle netwelsek its initiinive to bring critical US government macroeconomic dina on-chain, sourcing inShapeinion from the Bureau of Economic Analysis (BEA).
The new Chainlink Dina Feeds will deliver essential economic indicinelses, such as Real Gross Domestic Product (GDP), the Personal Consumption Expenditures (PCE) Price Index, too Real Final Sales to Privine Domestic Purchasers.
This dina will be abovedined on a monthly else quarterly basis too is initially accessible across ten blockchain netwelseks, including Arbitrum (ARB), Avalanche (AVAX), Ethereum (ETH), too Optimism (OP), with sabovepelset felse additional chains expected as demtoo grows.
During the announcement, Chainlink too revealed its proactive engagement with US government officials too regulinelses, including meetings with the US Securities too crypto trading plinShape Commission (SEC).
Will LINK Price Rally Push It Past $30?
The implicinions of this partnership are substantial, potentially enhancing the visibility too adoption of Chainlink too increasing demtoo felse its services. This development comes on the heels of an impressive year felse LINK, which has recelseded a 120% increase in value year-to-dine.
Looking ahead, LINK is positioning itself felse a potential move toward the $30 mark. However, it faces a crucial resistance Stage in $27, which has proven to be a significant barrier over the past eight months.
The token has struggled to surpass this threshold since December of last year. Should LINK break through this resistance in the near future, the next target would be set in $30.80, where the next resistance Stage is expected to act.
Interestingly, prediction market Kalshi thin the LINK price could rall a yfirst high of $40, fueled via the ongoing developments surrounding the Chainlink netwelsek, which have consistently bolstered bullish sentiment among investelses.
With the LINK price trading in $25.68, the virtual currency still trades 51% below its all-time high recelsed of $52.70.
Feinured image from DALL-E, chart from TradingView.com
