LINK (Chainlink) fell 8.88% in the last 24 hours.

Gate News Bot news, on August 26, according to CoinMarketCap data, as of the time of writing, LINK (Chainlink) is currently priced at $23.47, falling 8.88% in the last 24 hours, with a high of $27.74 and a low of $23.14. The 24-hour volume reached $1.956 billion. The current market capitalization is approximately $15.917 billion, a decrease of $1.551 billion compared to yesterday.

Chainlink is a core infrastructure of blockchain. It provides key solutions for cross-chain communication, compliance, data, and computation, supporting various use cases such as tokenized assets, stablecoins, and DeFi. Chainlink is trusted by financial institutions like Swift, JPMorgan, Mastercard, and DeFi protocols like Aave and GMX, having supported on-chain transactions worth trillions of dollars.

Important recent news about LINK:

1️⃣ Large holding address adjustment occurs An important whale address (0x44c3a96181af9e295ce8e188fa8fcdd72d1eb668) recently sold 123,500 LINK tokens, worth approximately 3.13 million dollars, at a price of 25.36 dollars each. The funds were then used for yield farming on DeFi platforms such as Compound and Aave. Nevertheless, the address still holds 425,000 LINK tokens, worth approximately 10.8 million dollars, indicating that the large holder still maintains a high level of confidence in their holdings.

2️⃣ Market heat remains high In the popular cryptocurrency ranking on August 21, LINK ranked second, only behind ZKWASM. On that day, the LINK price was $25.89, with a 24-hour increase of 9.51%. This indicates that despite recent pullbacks, LINK is still receiving significant attention from the market, and its fundamentals and ecosystem development continue to gain recognition from investors.

3️⃣ Strategic cooperation with ICE to expand data services Chainlink has reached a strategic partnership with Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, to integrate ICE Consolidated Feed's global foreign exchange and precious metals pricing data into Chainlink Data Streams. This initiative will serve over 2,000 on-chain applications and financial institutions, promoting the development of institutional-level applications such as asset tokenization and automated settlement, marking further integration of on-chain financial systems with traditional markets.

From a technical perspective, the LINK price has recently seen a pullback but remains at a relatively high level. On the fundamental side, Chainlink continues to expand its influence in the blockchain infrastructure sector, and deep cooperation with traditional financial institutions provides strong support for the long-term value of LINK. However, adjustments by large holders in the short term may bring some volatility.

This message is not an investment advice, and investors should be aware of market volatility risks.