Key Insights:
- Chainlink has secured over $20.4 trillion in transaction value across blockchains.
- 100M SXT tokens to be claimed by LINK stakers starting May 8 during Season Genesis.
- LINK trades at $13.55, down 3.87%, but shows strong long-term support near $14.
Chainlink has locked in more than $20.4 trillion in total transaction value across its network. The adoption is from the official Chainlink dashboard across different blockchains.
As a decentralized oracle network, Chainlink provides essential infrastructure that delivers real-world data to smart contracts.
Although Chainlink’s token is gaining popularity, LINK is under short-term market pressure. At the time of writing, LINK is trading at $13.55, down 3.87% in the last 24 hours, according to CoinMarketCap.
The price drop has also led to an increase in daily trading volume to $268.45 Million, which is up 33.51% from the day before. Market capitalization stands at $8.91 Billion.
Strong Base Around $14 Support is Seen on Monthly Chart
On Binance’s monthly chart, LINK has been on a steady uptrend since 2018. The token respects a long-term support trendline, as per the chart. By May 2025, this support is still intact.
Analysts describe the pattern as ‘coiling,’ where price tightens before a move. Yet, there has not been a breakout yet. Targets are marked around $663 and $2,254, but these are not expected short term as resistance levels are far above.
Despite market fluctuations, LINK continues to build within a broader upward trend and holds key structural levels.
Chainlink Rewards Program Debuts With SXT Token Distribution
In other news, the new rewards initiative from Chainlink is aimed at engaging its ecosystem participants.
Chainlink Rewards is a program that lets eligible LINK stakers claim tokens from partnered projects. Space and Time is the first to participate in the network.
As a part of this launch, 200 million SXT, or 4% of Space and Time’s total SXT token supply, has been allocated to Chainlink stakers.
The first phase, Season Genesis, will become available on May 8, 2025, and 100 million SXT will be available for claiming. The claims will be open for 90 days.
The remaining 100 million SXT will be distributed in later phases. The next campaign may also return any unclaimed tokens from Season Genesis.
It provides a new way to benefit from participation in securing the network for both historical and active LINK stakers.
Long-Term Growth Strategy Backed by Real-World Use Cases
During an interview, Chainlink’s co-founder Sergey Nazarov spoke about a broader trend of RWA tokenization. Banks are now starting to look at ‘another wave of securitization,’ but this time in the form of tokenization, he said. According to him, it was a “watershed moment” for blockchain.
This development is positioned at the center of Chainlink. The network provides reliable, secure data feeds to automate tokenized asset markets. It also includes pricing, settlement conditions and external data validation through its oracles.
At the same time, the Build program, which underpins Chainlink Rewards, is growing. In exchange for technical support, market exposure, and early product features, projects join Build. In turn, a portion of their token supply is locked up in the Chainlink community.
LINK’s Price Reaction to Network Growth Awaited by Community
The new initiatives and real-world growth haven’t been enough to stop LINK’s short-term price from being under pressure. Yesterday, price fell from $14.15 to $13.55. On CoinMarketCap, the 1-day candle shows a steady downward slope after a short peak.
However, Chainlink’s ecosystem still grows. The rewards program may tighten token supply over time by increasing staking participation.
As more Build partners join future reward campaigns, demand for staking and development with LINK could increase.
First off, May 8 is the date when the first SXT tokens become claimable. During the next 90 days, market participants will most likely pay close attention to staking metrics and price reaction.
