Chainlink Hits 8 Month High As Open Interest Spikes

Chainlink hit a significant milestone on September 7 as the price reached 13.64 dollars. This marks the highest point for the asset since mid January of 2026. The move shows that investors are regaining confidence in the token after a steady period of growth over the summer.

Market data shows that open interest has climbed to 784 million dollars. This figure indicates that traders are placing more bets on the future direction of the coin. Rising open interest often signals that the current price trend has strong backing from participants in the derivatives market.

Chainlink has seen a gain of 94 percent since June 22. While some traders are choosing to take profits at these higher levels, the overall momentum remains positive. Market watchers are now keeping a close eye on whether the asset can maintain this support level or if more selling pressure will appear in the coming days.