Chainlink is experiencing a significant surge, with a 44% gain over the past week, leading traders to speculate on the potential for another major rally. Recent trading reports indicate that LINK is poised for further upward movement, with trader Johnny's analysis noting a bullish trend as the price hit $24.60. This bullish sentiment marks the highest level of hope for Chainlink since February. In the last month alone, Chainlink surged by 54%. Despite these gains, it remains about 55% below its all-time high of $52.88 in May 2021. Analysts suggest that the resurgence may be linked to Chainlink's role in the institutionalization of crypto and the growth of stablecoins and tokenization. A recent partnership with Intercontinental Exchange is noted as a significant development, potentially providing more data on-chain. Analysts are keeping a close eye on the market, anticipating a deposit update that could further influence LINK’s price.

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