LINK has recently surged, nearing $30 during Friday morning hours in Asia. Open interest (OI) on LINK's futures has skyrocketed, hitting record highs above $860 million.

On December 13, 2024, World Liberty Financial, which has the backing of Donald Trump, made another significant move. They purchased $1 million worth of LINK late Thursday. This marked the second day in a row they bought more. Now, their total investment in LINK stands at $2 million. This makes LINK their fourth-largest holding, following ether (ETH), bitcoin (BTC), and tether (USDT). They also added $246,000 worth of Aave’s AAVE, bringing their total token holdings to $1.2 million.

World Liberty Financial operates as a unified platform. Users can borrow and lend cryptocurrencies, create liquidity pools, and transact with stablecoins. The WLFI token acts as the governance token for this platform.

They utilize Chainlink's data services to enhance their integration within the broader crypto ecosystem. Chainlink plays a crucial role by providing essential pricing data and cross-chain interoperability infrastructure, as noted in a November report.

Chainlink connects blockchains with off-chain systems. This allows smart contracts to access real-world data, external APIs, and various off-chain resources. LINK tokens are used to pay node operators for their work in retrieving and preparing off-chain data or performing computations.

Investor interest in LINK is closely tied to the utility and adoption of Chainlink's oracle services. The market has reacted positively to the Trump-related purchases. LINK prices have increased by 22% over the past week and more than 130% since World Liberty Financial first integrated Chainlink. This has helped the token reach price levels not seen since early 2021.

As of Friday morning, LINK is approaching $30, and open interest on its futures has reached record levels above $860 million. OI indicates the number of unsettled positions in futures markets. When prices rise alongside increasing OI, it typically signals a bullish trend, suggesting that investors are eager to commit more capital, anticipating further price growth.

Shaurya Malwa is the Co-Leader of the CoinDesk tokens and data team in Asia. They focus on crypto derivatives, DeFi, market microstructure, and protocol analysis. Shaurya holds a diverse portfolio of cryptocurrencies and contributes liquidity to various platforms.