Core Insights - Chainlink's price reached approximately $25 on September 13, marking a 15% increase over the week, driven by Polymarket's adoption of Chainlink's data feeds for price-related wagers [1] - The integration allows for secure, real-time prediction markets across numerous crypto trading pairs, reducing reliance on social voting and mitigating resolution risks [2] - Sergey Nazarov, Co-Founder of Chainlink, emphasized that the integration enhances the reliability of prediction markets by utilizing high-quality data and tamper-proof computation [3] Integration and Market Impact - The partnership enables low-latency, verifiable price reports and automated on-chain settlement, providing Polymarket with near-instantaneous resolution capabilities for deterministic outcomes like Bitcoin and Ethereum price predictions [4] - Chainlink's open interest in derivatives is reported at $1.7 billion, with a slight decrease of 0.02% intraday, while trading volumes increased by 7.3%, indicating speculative activity focused on trimming LINK futures positions [5] Technical Analysis - The daily price chart for Chainlink shows a 15.9% rally over six sessions, bouncing from a support level of $22 to peaks around $25, with a Golden Cross signal formed at $24 [6] - A decisive close above $25 could target the next resistance level near $28, while failure to maintain above $24 may lead to a retest of the $23.30 support area, with further breakdown potentially targeting $20 [7]
Chainlink Price Analysis: Open Interest Stalls Below $2B Despite Polymarket Partnership
Yahoo Financeยท2025-09-13 17:30