Chainlink leads the market with 61% weekly gain — What’s driving LINK price?

The Chainlink’s (LINK) token surged by a substantial 61.3% from Oct. 20 to Oct. 25, reaching a peak of $11.78 and marking its highest point since May 2022. LINK price then stabilized around $10.50, prompting investors to question the sustainability of this new price level.

Chainlink (LINK) token price, 12-hour, USD. Source: TradingView

It’s worth noting that this surge coincided with Bitcoin’s (BTC) 23% gain during the same period. However, LINK’s performance stands out in comparison to Ether’s (ETH) 14% increase and Solana’s (SOL) 28% rally, suggesting increased bullish sentiment toward Chainlink’s leading oracle and decentralized computing solutions.

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