Chainlink Price Rally Tests $10 Despite Bullish Derivatives Surge
The post Chainlink Price Rally Tests $10 Despite Bullish Derivatives Surge appeared on BitcoinEthereumNews.com.
An inverted flag pattern drives the short-term relief rally in Chainlink price. The SEC and CFTC jointly issued long-awaited regulatory guidance on crypto assets. The open interest tied to LINK’s futures contracts recorded to from $362 million to $462, suggestive a return of speculative force in price. LINK, the native cryptocurrency of decentralized oracle network, is down 1.31% to Tuesday trade at $9.8. The selling pressure was a temporary pullback after a broader market recovery since last week. However, the digital assets prevented a drawdown as the Security and Commission issued an interpretation that clarifies the application of federal securities laws to crypto assets. In addition, the derivative trading linked to LINK’s futures contracts recorded a renewed uptick this week, signalling an opportunity for Chainlink price breakout. New SEC–CFTC Framework Classifies LINK as Digital Commodities The past week, the Chainlink price rebounded from $8.4 to $9.83, registering a gain of 17%. Consequently, the asset’s market cap also rose to $6.9 billion. The buying pressure follows the footsteps of Bitcoin amid the easing geopolitical tension in the middle east including the strait of Hormuz. While the price recovery slowed down today, U.S. regulators finally offered long-awaited clarity on the status of many cryptocurrencies when the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) released a joint interpretive guidance document. The release specifically classifies the several major cryptocurrency under digital commodity including, Chainlink (LINK). The document creates five different categories of crypto assets: digital commodities, digital collectibles, digital tools, stablecoins, and digital securities. The guidance stresses that most crypto assets are not securities, settling previous uncertainties. SEC Chairman Paul Atkins said the move represented “recognition of realities that were overlooked in previous administrations, combined with recognition that an asset that is considered a security under investment contract analysis may…
Filed under: News - @ March 19, 2026 6:28 am