Highlights:
- Chainlink is trending towards the $11.28 support
- Correction driven by Bitcoin’s price action as bears take control
- Chainlink’s fundamentals support growth once markets stabilize
Chainlink (LINK) is no exception to the correction that is happening across the cryptocurrency market today. When going to press, Chainlink was trading at $15.21, down by 2.86% in the day.
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Bitcoin Behind Chainlink’s Price Correction Today
The correction is mainly a result of Bitcoin’s price action and has nothing to do with Chainlink. Bitcoin has faced a sharp correction since it failed at a weekly resistance level on Sunday, May 19.
Bulls need to hold 102.4K support to prevent a deeper pullback
Over the past few days BTC has only corrected by 1–2% while altcoins dropped 20–30%
sooo if bitcoin falls to 98.5K or even 96K I expect my ALTs drop to zero 🥸 pic.twitter.com/wvttJYniCq— CryptoSharkk (@Cryptosharkkkk) May 19, 2025
With its price action, Bitcoin has pushed LINK and most altcoins lower. However, its price action is starting to stabilize, which could positively impact LINK in the near term. The best part is that Chainlink is primed for long-term growth, regardless of what is happening across the market. That’s because Chainlink has emerged as one of the top cryptocurrencies today in terms of fundamentals.
Chainlink Dominates the Decentralized Data Oracles Space
Chainlink monopolizes the decentralized data oracles market and is now gaining adoption in crypto and traditional finance. Last week, JP Morgan made headlines after it used Chainlink to complete its first on-chain transaction that bridged crypto and traditional finance. This is only one of the multiple news stories of adoption that Chainlink has seen recently.
Trump-Linked Company Adopts Chainlink
The latest news coming from the Chainlink ecosystem is that World Liberty Finance, a company associated with Donald Trump’s family, has integrated Chainlink. According to the company, the move to embrace Chainlink is driven by a need to better strengthen the infrastructure that underpins their USD1 stablecoin.
That’s especially in transactions involving moving capital between Ethereum and Binance Coin. With the integration of Chainlink, World Liberty Finance now has the security necessary to protect its fast-growing DeFi ecosystem. Chainlink co-founder Sergey Nazarov lauded the move by World Liberty Finance as one that will help in the unification of DeFi and centralized finance.
World Liberty Financial, the DeFi protocol and governance platform inspired by President Donald J. Trump, is officially going cross-chain with Chainlink CCIP $WLFI $LINK pic.twitter.com/CBrXDtCWdP
— Quinten | 048.eth (@QuintenFrancois) May 16, 2025
The move by World Liberty Finance could also trigger FOMO buying of LINK. Investors expect LINK to be on the right side of whatever cryptocurrency regulations the US will likely make in the next four years. This confidence boost could reflect in LINK’s price over time.
Chainlink Launches Build on Solana
Besides being adopted by traditional finance, Chainlink is also making big moves within the cryptocurrency market itself. Chainlink Labs recently announced Build on Solana. The startup is meant to help Solana developers leverage Chainlink’s data feeds. Any project joining the startup accelerator will have access to Chainlink services, including data feeds, Chainlink’s CCIP, and SmartData.
We're excited to announce Build on Solana, a new startup program from @chainlinklabs to help leading teams build, launch, and grow in the @Solana ecosystem.
Selected teams join Chainlink Build and gain hands-on guidance, ecosystem incentives, and go-to-market resources from both… pic.twitter.com/TgIT070ghC
— Chainlink (@chainlink) May 16, 2025
According to Seth Sanket, the Vice President of Revenue and Partnerships at Chainlink Labs, this move will help strengthen the collaboration between Chainlink and Solana. This is a big deal for many reasons. First, it entrenches Chainlink as the top data oracle by linking it to one of the fastest-growing L1S in the market. At the same time, it could attract more Solana investors, helping drive LINK demand in the long term.
Technical Analysis – Chainlink Price Trending Towards Support
Chainlink failed at the $18.08 resistance yesterday, May 18. This has seen bears take control, with high volumes. If the ongoing selloff continues, Chainlink could be headed to the $11.28 multi-week support.
However, if fortunes change across the market, $18.08 would be an area of interest for investors. A rally through it could see Chainlink rally to prices above $20 in the short term.
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