Key Takeaways
Chainlink just landed a major partnership with Japan’s SBI Holdings. At the same time, LINK’s trading activity is picking up, with record Open Interest and a steady price uptrend.
Japan’s SBI Holdings is teaming up with Chainlink [LINK] to push crypto further into Asia’s financial hub.
The timing couldn’t be better!
LINK’s Open Interest hit an all-time high while prices climbed through August, a coincidence the market did not ignore.
SBI bets big on Chainlink
SBI Holdings confirmed a strategic partnership with Chainlink to accelerate institutional digital asset adoption.
The Japanese finance giant said the partnership will initially focus on its home turf, with plans to expand across the wider Asia-Pacific region.
In fact, it is said to unlock new use cases like tokenizing RWAs (think onchain bonds and fund shares) while also using Chainlink’s oracle tech to verify stablecoin reserves onchain.
The move comes as Japan moves closer to approving its first yen-backed stablecoin. The deal also complements its recent tie-ups with Circle [USDC], Ripple [XRP], and Startale.
Derivatives traders as momentum catalysts
Naturally, the partnership landed as LINK’s derivatives market showed record traction. Open Interest climbed to $875.7 million, according to Coinalyze data, marking an all-time high.
Source: Coinalyze
Funding Rates stayed modest at 0.0142, a sign of bullish positioning without the extremes of overheated leverage. There’s healthy demand from both retail and institutional traders, rather than a frothy speculative spike.
If sustained, the build-up in leveraged interest could provide the fuel for LINK’s next leg upward, especially as fundamentals strengthen through new ventures.
LINK maintains uptrend, but faces resistance
At press time, LINK traded at $25.79, holding above its 9-day and 21-day SMAs — both of which had been steadily rising, confirming bullish momentum.
The RSI hovered at 64, showing strong but not overextended buying pressure. Meanwhile, the MACD line remained above the signal line, reinforcing the positive trend.
Source: TradingView
However, smaller-bodied candles over recent sessions reflected hesitation after early-month gains.
If buyers regain strength, LINK could test the $27–$28 zone short-term. A fallback to $25 support remains possible if selling pressure builds.
