LINK, whose price reached its highest level in the last three years at $29.45, continued its rise at a time when futures open interest (OI) reached an all-time record level.

According to data from on-chain and financial data provider Glassnode, Chainlink futures open positions reached $770.27 million. OI is an important indicator used to measure investor sentiment in the market, in this case it indicates a bullish trend.

Glassnode’s data dated December 11 revealed that LINK’s OI size was much higher compared to leading projects such as Toncoin (TON) and TRON (TRX). For TON and TRX, these figures remained at $259 million and $356 million, respectively.

The price increase allowed LINK to reach levels it has not reached since January 2022. In this process, while the dominance of the bulls strengthened, improvements were also seen in basic indicators. Glassnode highlights new partnerships and projects in the LINK ecosystem among the factors supporting this rise.

However, profit sales in the spot market also attracted attention. According to analysts, most of these sales came from speculative traders. Despite the highest profit selling since February, it is stated that long-term investors remained calm in this process. At the time of writing, Chainlink gained 13% in value on a daily basis, 97% in the last week and 30% in the last 30 days.

LINK’s price increase was also supported by important collaborations and integrations. Chainlink established a partnership with World Liberty Financial in November and signed a project that aims to bring decentralized finance (DeFi) to the masses. This project contributes to the growth of the ecosystem by increasing the use of Chainlink technology.

Additionally, Chainlink Labs has formed a partnership with Emirates NBD Digital Asset Lab. This collaboration is considered an important step in asset tokenization and digital asset management. Other collaborations with world-renowned institutions such as Swift, SBI and UBS are also among the factors that strengthen Chainlink’s position.

Chainlink’s growth in the futures market indicates increasing confidence among investors. Record levels in futures open interest show that LINK’s price increase has strong support not only in the spot market but also in the derivatives market.

Futures are an important tool that allows traders to speculate on the future price of an asset. While this growth in Chainlink’s futures market particularly attracts the attention of speculative traders, long-term investors in the market appear to be maintaining a patient stance.

Chainlink continues to attract attention in the cryptocurrency market with both its price performance and innovative steps in the ecosystem. Experts predict that such developments could trigger further value increases for LINK.