Chainlink's native token, LINK, climbed above $10.60 following recent infrastructure updates and a high-profile White House appearance by the platform's co-founder, Sergey Nazarov. After the initial spike, the token consolidated near those price levels.
On August 20, at a technology leaders event at the White House, Nazarov stated that recent U.S. regulatory actions are helping stablecoins achieve a broader audience. He specifically pointed to the GENIUS Act and the increasing use of U.S. government debt in stablecoin reserves as drivers that could expand the reach of dollar-backed digital assets. Nazarov also noted that he expects tokenized stocks to follow a similar growth path.
In addition to the White House spotlight, Ethereum infrastructure firm Nethermind announced it is joining Chainlink as a node operator to help secure Chainlink's CCIP and Data Feeds. Nethermind CEO Daniel Celeda called the decision a long-term move aligned with the direction of on-chain finance. A timeline for completing the migration has not yet been announced.
On the charts, LINK held onto its recent gains following the market surge and platform developments. Technical indicators showed the Relative Strength Index (RSI) around 64, indicating that buyers maintained control without the market becoming overly stretched, while the On-Balance Volume (OBV) also improved and remained relatively steady.
