LINK Price Is Finally Up: Chainlink Breaking Out?

Chainlink (LINK) price finally woke up. After weeks of chopping sideways, the leading oracle network surged over 14% on Wednesday, tapping $9.35: its highest price since early February. This move has pushed its market capitalization back above the $6.6 billion mark, bringing some much-needed relief to holders.

But whenever a token spikes double-digits in a single day, the immediate question is whether it’s sustainable. Is this a genuine breakout driven by utility, or just a “dead cat bounce” (a temporary recovery in a dying trend) riding Bitcoin’s coattails? The answer seems to be a mix of market momentum and a major institutional plot twist.

Here is what is actually moving the needle.

DISCOVER: Top Crypto Presales to Watch Now

Is The Canton Network Integration The Real Deal?

While the broader market is definitely helping, Bitcoin itself is recovering amid shifting macro fears, LINK has its own specific catalyst today. The price action aligns with the announcement that Chainlink is integrating with the Canton Network.

If you are new to this corner of crypto, think of the Canton Network as a private highway for heavy institutional traffic. It is designed for big banks and financial asset managers who want to tokenize real-world assets (like stocks or bonds) but need strict privacy and control. By integrating, Chainlink becomes the bridge that connects this private highway to the rest of the blockchain world.

Specifically, the integration uses Chainlink’s Cross-Chain Interoperability Protocol (CCIP) and Proof of Reserve data. Chainlink is verifying that the assets banks claim to have on-chain are actually there.

JUST IN: @CantonNetwork adopts Chainlink data and interoperability standards to unlock institutional tokenization.

Data Streams (incl. 24/5 equities)
SmartData (NAV & AUM)
Proof of Reserve
CCIP

Canton Chainlink pic.twitter.com/49UV9NNxJ3

— Chainlink (@chainlink) February 25, 2026

The vision for a $50 trillion tokenized economy relies entirely on reliable data. Without oracles like Chainlink, smart contracts are blind to the outside world. This integration cements LINK’s status as the plumbing for institutional DeFi, rather than just a casino chip for retail traders.

It also helps that institutional players are putting their money where their mouth is. Data from SoSoValue shows that spot LINK ETFs (like Grayscale’s GLNK and Bitwise’s CLNK) have accumulated over $10 million in assets this month alone.

While institutional demand has been hit-or-miss for other altcoins, LINK is seeing sticky accumulation.

DISCOVER: 5 High-Risk High-Reward Cryptos for 2026

The Valuation Reality Check: Can LINK Price Reach $10?

The hype is good, but let’s run the math. At $9.25, Chainlink has a market cap of roughly $6.6 billion. To break its immediate psychological resistance of $10, we don’t need a miracle: we just need the current momentum to hold for a few more daily closes.

The real test lies at the $11-12 level: it previously acted as support, but now it’s acting as resistance after the price broke below this level.

This rally needs to flip previous resistance levels into support to prove it isn’t fake.

DISCOVER: 14 Best Crypto to Buy Now in February 2026

What The Charts (And Feds) Are Saying

Beyond the price spikes, the ecosystem context is shifting in Chainlink’s favor. Interestingly, it’s not just about code: it’s about compliance. Chainlink’s former deputy general counsel, Taylor Lindman, was recently appointed as Chief Counsel for the SEC’s Crypto Task Force.

While this doesn’t guarantee favorable treatment, having a Chainlink veteran inside the SEC certainly validates the project’s regulatory standing compared to meme coins or more experimental protocols. It signals that Chainlink is viewed as serious infrastructure.

Technically, traders are watching Open Interest (OI), which has surged toward $170 million. When OI rises alongside price, it usually confirms the trend is backed by new money entering the market rather than just short sellers covering their bets. However, unless Bitcoin maintains its footing above $67,000, LINK will struggle to push through $10 on its own. If LINK price holds as support, the path to $11 opens up. If it fails, we are likely back in the chop.

Follow 99Bitcoins on X for the latest market updates and subscribe on YouTube for daily expert market analysis.