From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush’s journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

Institutional investors have recently acquired over $30 million worth of Chainlink (LINK) tokens.

This significant investment highlights the increasing adoption and trust in Chainlink’s technology across various financial sectors.

Increased Supply Stalls LINK Price Despite Institutional Backing

According to on-chain analytics platform Lookonchain, 54 new wallets withdrew 2.08 million LINK tokens, valued at $30.28 million, from Binance over the past week. This indicates substantial interest from institutional investors, likely driven by Chainlink’s increasing utility in financial services and blockchain interoperability.

One key driver fueling this interest is Chainlink’s Cross-Chain Interoperability Protocol (CCIP). This protocol offers a straightforward interface for decentralized applications (dApps) and Web3 entrepreneurs, securely addressing their cross-chain needs.

Read more: What Is Chainlink (LINK)?

By enabling the transfer of data, tokens, or a combination of both, CCIP supports smart contracts and externally owned accounts. This facilitates seamless interactions across various blockchains.

Chainlink’s CCIP now supports nine major blockchains. These nine blockchains are Arbitrum, Avalanche, Base, BNB Chain, Ethereum, Kroma, Optimism, Polygon, and WEMIX.

This expansion has been pivotal in attracting institutional attention, as it enhances the utility and reach of Chainlink’s services. For instance, the Depository Trust and Clearing Corporation (DTCC) completed the Smart NAV pilot earlier in May. 

This pilot involved ten market participants using Chainlink’s CCIP to integrate on-chain data into various blockchain applications. By leveraging Chainlink’s decentralized oracle network, the pilot ensured the secure and efficient transmission of net asset value (NAV) data, a crucial metric for mutual funds.

Additionally, Chainlink’s partnerships with several banking institutions have further cemented its reputation. Institutions like Citi, BNP Paribas, Lloyds Bank, and Deutsche Bank have also shown interest in Chainlink’s offerings.

Analysts Predict Bull Market for Chainlink Despite Current Challenges

Despite these advancements, Chainlink’s price has yet to reflect the same upward trajectory. Currently, LINK trades at $14.41, a 72.6% decrease from its all-time high of $52.70 in May 2021. 

Analysts attribute this to the increased circulating supply of LINK tokens. In May 2021, the circulating supply was 425 million tokens, which has since risen to 608 million as of June 29, 2024.

This significant rise in supply, without a proportional increase in demand, has led to an oversupply in the market. Eventually, it contributes to the token’s price stagnation.

However, market analysts maintain a positive long-term outlook for LINK. Crypto analyst Michaël van de Poppe noted a recurring pattern in LINK’s price movements, predicting an imminent bull market phase.

Read more: How To Buy Chainlink (LINK) and Everything You Need To Know

“LINK has been seeing the same pattern over and over again. First six months downwards. Second six months bull market. We’re in the second six-month part and are slowly grinding upwards. Good times ahead,” van de Poppe stated.