Chainlink (LINK) was the best performer among the top 20 cryptocurrencies this week, gaining 10.18% to hit $8.71 — its highest level since early June. A broad rally fueled by softer US inflation data lifted the whole market, with Bitcoin rising above $65,000 and total crypto market value crossing $2.2 trillion. But LINK’s move outpaced even Zcash (8.25%) and Ethereum (7.83%), the next best in the top 20.
Exchange supply keeps draining
More than 15.7 million LINK have left exchanges over the past month — a 12% drop in supply. The single-day net outflow on Sunday alone was 1.04 million LINK. Santiment reported a similar large outflow back in late April, the biggest since December 2025, which was followed by a price slip. This time, the outflow comes amid a broader rally and a bullish tokenization narrative.
DTCC runs first production trades
On July 15, the Depository Trust and Clearing Corporation (DTCC) completed its first production trades of tokenized assets. Chainlink was among more than 30 participants, including BlackRock, Vanguard, Goldman Sachs, JPMorgan, and Microsoft. The DTCC Tokenization Service is set to launch in October 2026, which could further boost adoption of Chainlink’s oracle tech in institutional finance.
Non-empty wallets hit a record
Non-empty LINK wallets on Ethereum reached an all-time high of 900,000 last week. That’s a sign of growing retail and institutional interest, even as the token’s price had been stuck below $8 for weeks. The combination of shrinking exchange supply and rising wallet count suggests holders are moving LINK to self-custody rather than selling.
What’s next
The Federal Reserve meets on July 28 — the next big macro test for risk assets. If the Fed signals more rate cuts, crypto could extend its rally. But for now, LINK is riding a wave of its own: falling exchange supply, a record holder base, and a concrete use case in the DTCC’s tokenization push. The question is whether the October launch can keep the momentum going.
