The recent acquisition by Trump-associated World Liberty Financial (WLFI) has led to a significant rise in Chainlink (LINK) prices. On Monday, WLFI completed the strategic purchase of 220,000 LINK tokens valued at $5.63 million, according to Chinese reporter Wu Blockchain.
In addition to LINK, WLFI acquired 13,000 Aave (AAVE) tokens and 37.267 million TRON (TRX) tokens, with values of $4.41 million and $8.86 million, respectively. The buying activity contributed to a 44% increase in LINK's price over two weeks, including an 11% jump in just 24 hours. However, LINK still trades nearly 49% below its all-time high of $52.70 from the 2021 bull run and is currently priced slightly above $26.
WLFI announced the acquisitions on social media platform X, explaining that the purchases celebrate Donald J. Trump's inauguration as the 47th U.S. President. Furthermore, WLFI disclosed investments of $47 million each in Ethereum (ETH), wrapped Bitcoin (wBTC), and similar amounts in AAVE, LINK, TRX, and Ethena (ENA).
The Trump family's involvement in the cryptocurrency sphere has invigorated LINK investors, prompting renewed optimism about the token's future. Analyst Michael van de Poppe remarked that a recent 30% correction in LINK aligns with historical patterns and predicts a price increase to $35 as market conditions stabilize.
Supporting this positive outlook, market expert Ali Martinez highlighted a significant withdrawal of over 770,000 LINK tokens from exchanges, indicating growing investor confidence. Satoshi Flipper also expressed enthusiasm regarding LINK's prospects, highlighting a falling wedge pattern that could push the token toward its all-time high. He argued that dismissing the potential for further gains could be premature, given Chainlink's role in the crypto ecosystem.
Aixbt added to the discussion, noting LINK's monthly Relative Strength Index (RSI) at 67, nearing the critical 70 threshold previously linked to a 375% price surge. This scenario resembles the conditions that propelled LINK from $3.50 to $20 in a past cycle. If similar patterns unfold, LINK's price could reach $124.80, nearly tripling its current peak.