The Chainlink (LINK) cryptocurrency is up big following its announcement of a new partnership with credit card provider Mastercard. The two are partnering to enable Mastercard cardholders to purchase cryptocurrency directly on-chain. The two companies shared the announcement on Tuesday morning, signaling a “major step forward in the mainstream adoption of Web3.” Since the announcement, LINK has climbed nearly 20%, showcasing interest in Chainlink’s big move.
At press time, the asset is up 3% in the past week after a brief slide in mid-June. LINK’s trading volume is down to $397.12 million as transactions begin to slow, likely meaning investors are awaiting a point where Chainlink’s price goes up or down. The cryptocurrency currently sits at $13, reclaiming that mark after a stint around $12.
As adoption of crypto assets continues to grow, collaborations like the one between Mastercard and Chainlink are helping drive a new wave of users that bridge the gap between crypto technology and real-world usability. Thus, assets like Chainlink (LINK) are promising crypto investments. Institutional interest in cryptocurrency is at an all-time high, and blockchain technology is fueling the growing popularity and leaking into crypto hype. Further, the climb for LINK and other crypto assets is expected to continue heading into July, revealing a potentially big month ahead.
Chainlink is also making moves on the whale front, with large crypto holders moving around their LINK holdings. Over the past weekend, one token unlock saw 17.875 million LINK worth $149 million deposited into Binance, fueling the transfer surge further. The timing of these whale moves aligns with a broad market sell-off, which led to $458 million in crypto liquidations. Typically, the whale’s moves hint at bullish optimism for a crypto asset. As a result, investors are hoping that LINK has bottomed out and could be preparing for a sharp breakout.
Chainlink LINK is pushing higher after breaking out of a large triangle formation and reclaiming a key support zone near 12.64. The breakout is accompanied by increasing bullish momentum and continuation signals. As a result, its price is now heading toward the 14.20–14.50 target zone.
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