TLDR
- Chainlink secured US government partnership to publish economic data on-chain through Bureau of Economic Analysis
- LINK price surged 61% in August from $15.43 low to current $24.13 level
- Token gained 3% on partnership news before settling near $25 resistance
- Technical indicators show potential for $28-30 target if $26.50 resistance breaks
- Government transparency initiative part of Trump administration crypto strategy
Chainlink has landed a major contract with the US government to bring economic data on-chain. The Department of Commerce selected the oracle provider to publish key financial metrics from the Bureau of Economic Analysis.
The partnership covers real gross domestic product data, Personal Consumption Expenditures price index, and real final sales to private domestic purchasers. Chainlink will expand data feeds based on demand or government requests.
LINK price jumped over 3% following the announcement before retreating to approximately $25. The token currently trades at $24.13 after delivering strong August performance with a 61% monthly gain.
Government Partnership Drives Market Interest
The collaboration forms part of the Trump administration’s blockchain strategy. Officials aim to increase government spending transparency and position America as a global crypto leader.
Publishing economic data on-chain enables automated trading strategies and real-time prediction markets. The move benefits decentralized finance protocols requiring macroeconomic inputs for risk management.
Stablecoins, tokenized government bonds, and real-world assets stand to gain from accessible on-chain economic data. The initiative represents growing institutional adoption of blockchain technology.
LINK has experienced remarkable momentum since early August. The token climbed from a $15.43 low to current levels, marking one of the strongest monthly performances among major cryptocurrencies.
Chainlink Price Prediction
Current technical indicators suggest continued upward potential for Chainlink price. The RSI reading of 54.04 places LINK in neutral territory with room for expansion before overbought conditions.
Multiple analytical platforms converge on similar price targets. DigitalCoinPrice forecasts $28.18 representing 16.8% upside, while Blockchain.News projects $32.00 by late 2025.
The critical resistance level sits at $26.50 for bullish continuation. Breaking above this threshold could trigger momentum toward the $28-30 target zone that analysts favor.
LINK trades just 2% above its 20-day moving average at $24.18, indicating consolidation near technical support. The 50-day average provides stronger backing at $20.24, creating a 19% downside buffer.
Daily trading volume reached $336 million, showing sustained institutional interest. The 24-hour activity level suggests continued engagement from large market participants in the oracle sector.
Conservative buyers should consider entries on dips toward $23.50-24.00 using the 20-day average as dynamic support. Risk management requires stop-loss placement below $22.30 representing recent consolidation lows.
The Department of Commerce also selected Pyth Network for GDP data publishing, with PYTH surging nearly 70% on the announcement.
