Chainlink price may be on the verge of a breakout to $20 as exchange outflows rise and ecosystem growth continues.
Chainlink (LINK), the largest provider of oracle services, was trading at $16 on Wednesday â up 60% from its lowest point this year.
CoinGlass data shows that investors have continued accumulating the coin in anticipation of a rebound. As shown below, exchange balance netflow has remained negative every week since June of last year. So far this week, $11.27 million worth of LINK has exited exchanges, following $55.2 million in outflows last week.
Falling exchange balances typically occur when investors move their tokens into self-custody wallets. Rising balances, on the other hand, suggest selling pressure as investors deposit coins onto exchanges.
Chainlink exchanges outflows | Source: CoinGlass
Chainlinkâs technology is gaining more traction as the decentralized finance (DeFi) sector expands and as the outlook for real-world asset tokenization improves. For instance, Chainlink recently facilitated a transaction between JPMorgan and Ondo Finance (ONDO).
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Chainlinkâs cross-chain interoperability protocol went live on Solana (SOL) mainnet, a move that unlocked over $18 billion in assets. CCIP has also helped Solv Protocol, a Bitcoin staking platform, boost its assets to $2.5 billion, with $1.16 billion of them being powered by CCIP.
Analysts believe the RWA industry is still in its early stages and has substantial room for growth, a trend that could benefit Chainlink. Asset manager VanEck estimates the market for tokenized securities has already reached $50 billion and may exceed $30 trillion by 2030.
LINK price is also expected to benefit from Chainlinkâs partnership with Swift, the global financial messaging network that processes trillions of dollars annually. The collaboration focuses on integrating blockchain infrastructure with traditional finance to enhance efficiency.
Chainlink price technical analysis
LINK price chart | Source: crypto.news
The daily chart shows that LINK formed a double bottom at $10.20 in November last year and again in April, a bullish reversal pattern that often signals strong upside momentum. LINK has also formed an ascending channel over the past three weeks and is currently supported by the 50-day weighted moving average.
The most likely scenario is a continuation toward the psychological resistance level at $20, a 27% gain from current levels. A drop below the lower boundary of the ascending channel would invalidate the bullish outlook.
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Frankfurt authorities have suspended operations for eXch and seized its crypto assets valued $38.2 million. The platform allegedly facilitated money laundering for major crypto heists including the Bybit and Multisig hacks.
According to an official statement issued on May 9, the Frankfurt Prosecutorâs Office announced it had shut down the crypto exchange platform, seizing an array of crypto assets worth 34 million euros or equal to $38.2 million. These assets consisted of a mix of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Dash (DASH).
The prosecutorâs office dubbed it the âthird-largest seizure of crypto assets in the history of the BKA.â Authorities accused the team behind the platform of commercial money laundering and operating a criminal trading platform.
According to renowned crypto investigator ZachXBT, the platform was used to launder hundreds of millions of funds from some of the largest crypto hacks in history.
It was allegedly used to launder funds from the $1.5 billion Bybit hack, the $1.4 billion Multisig hack, the FixedFloat exploit, and the theft of around $243 million from Genesis Creditor, as well as various phishing scams over the past few years.
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The internet sleuth claimed the platform had repeatedly refused to block addresses and freeze orders related to these hacks.
Director of the Federal Criminal Police Office and Head of the Cybercrime Division, Carsten Meywirth has confirmed that the bureau has secured âa record-breaking sum of millions in incriminating cryptocurrenciesâ as well as effectively shut down the platform.
âWe will continue to increase the risk of loss for the underground economy with all the means at our disposal. Our goal remains to hold those responsible accountable,â said Meywirth.
How did eXch allegedly launder hacking funds?
eXch is known as a crypto exchange service that allowed customers to swap between crypto assets easily. It was made accessible on both the public web as well as the dark web. In fact, it has been specifically marketing itself on sites linked to the criminal underground.
It appealed to dark web operators because unlike most crypto exchange platforms, it did not abide to anti-money laundering measures. This meant that users did not have to identify themselves or submit Know-Your-Customer verification. The platform also claimed it does not store user information.
Therefore, the platform made it particularly increasingly easy for users to cover their financial tracks. Since it was established in 2014, the platform has facilitated around $1.9 billion worth of crypto transactions. Authorities suspect the platform has been accepting Bitcoin originating from illegal activity.
Not only that, the Frankfurt law enforcement have found evidence that the platform may have been used to launder a portion of the $1.5 billion of stolen funds from the Bybit hack.
On Feb. 21, crypto exchange Bybit suffered one of the largest exploits in the web3 space. The hackers were able to extract around $1.46 billion from Bybitâs ETH cold wallet. According to Bybit CEO Ben Zhou, nearly 30% of the funds stolen from Bybit can no longer be tracked. Meanwhile, he believes as much as 84.5% have been converted to Bitcoin via cross-chain liquidity protocol THORchain.
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Mantle has launched the Mantle Index Four Fund or MI4, a new institutional-grade digital asset index fund with Securitize as its tokenization partner.
According to a press release shared with crypto.news, the fund aims to offer institutional investors a crypto product featuring native yield generation within a familiar traditional fund structure. The initial rollout is scheduled for the second quarter of 2025.
After receiving approval from the Mantle DAO earlier this year, the Mantle (MNT) Treasury has pledged $400 million as the MI4âs initial investment. The protocol has also tapped real-world asset tokenization platform Securitize as the fundâs official tokenization partner.
MI4 seeks to bridge the gap between traditional finance and decentralized finance by combining regulated fund structures with decentralized yield strategies. The fund gives institutional investors exposure to major digital assets without requiring them to select individual tokens or manage self-custody.
The assets offered through MI4 include Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and USD stablecoins or synthetic dollars.
The fund also features integrated risk management, quarterly rebalancing, and yield optimization strategies. These include staking products such as Mantleâs mETH, Bybitâs bbSOL, and Ethenaâs sUSDe. The goal is to provide yield generation while remaining compliant with regulatory standards and investor protection rules.
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With Securitize as the fundâs tokenization partner, investors can tokenize their fund interests which can then be moved on-chain to the Mantle Network. These tokenized interests can be transferred under private placement regulations and MI4âs transfer provisions. Additionally, the tokenized shares may be used as collateral on supported exchanges, enhancing liquidity and utility.
Timothy Chen, Global Head of Strategy at Mantle, highlighted MI4 as a step toward making Mantle a benchmark in crypto fund offerings:
âOur basket of the major crypto currencies aims to capture all capital on chain looking for smart beta with income and is a set-it-and-forget-it solution for institutions without the complexities of direct custody,â said Chen.
Co-Founder and CEO of Securitize, Carlos Domingo, expressed optimism regarding the launch of MI4. He explained that through Securitizeâs platform, investors will be able to achieve real-time liquidity, use fund shares as collateral and take advantage of on-chain interoperability.
âThat level of flexibility, combined with the attractive yields and institutional-grade structure, creates a product that mirrors the best of traditional finance while delivering the full potential of tokenized securities,â said Domingo.
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The Federal Reserve kept its benchmark interest rate unchanged at 4.25% to 4.50%, citing continued economic expansion, low unemployment, and persistent inflation.
The Federal Open Market Committee also reaffirmed its commitment to reducing its balance sheet by continuing the runoff of Treasury securities and mortgage-backed assets.
âRecent indicators suggest that economic activity has continued to expand at a solid pace,â the Fed said in its statement, noting that the labor market remains strong and inflation is still âsomewhat elevated.âÂ
However, the Committee flagged increasing uncertainty in the economic outlook and said the risks of both higher inflation and higher unemployment have grown.
Bitcoin (BTC) showed some volatility around the time of the announcement and is trading slightly above $96,000.
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Future rates to be determined
While the Fed did not signal an imminent rate hike or cut, it emphasized that future adjustments to interest rates would depend on incoming data and evolving risks.Â
Fed Chair Powell said the inflation outlook is improving, but tariff impacts are uncertain and the Fed will act quickly if needed, though timing remains unclear. Powell said the Fed sees encouraging inflation trends, will learn more about tariffs over time, and is ready to act quickly if needed, though the timeline remains uncertain.
The central bank reiterated its long-term targets of maximum employment and 2% inflation, adding that it is prepared to alter policy if new risks threaten those goals.
At its March meeting, the Fed had already announced a slowdown in its balance sheet reduction strategy, capping monthly redemptions of Treasury securities at $5 billion starting in June, while keeping the cap for mortgage-backed securities at $35 billion.
All voting members of the committee supported the decision, with Neel Kashkari participating as an alternate.
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