Chainlink's LINK token rose 15% over the week, breaking above the $9.04 resistance level on August 15 and reaching an intraday high of $9.73 before stabilizing between $9.45 and $9.56. The move was accompanied by a 123.4% jump in derivatives trading volume to about $1 billion and a 16% increase in open interest to $694.39 million, indicating traders were building new positions rather than merely rotating existing ones. On-chain data showed a pickup in whale activity, with 246 transactions above $100,000 in a day, the highest since March, while wallets holding between 100,000 and 10 million LINK controlled 46.57% of circulating supply. Bitwise also reported about $1.5 million in weekly net inflows to its Chainlink ETF, pointing to growing institutional demand for regulated exposure to the token. Analysts said a move above $10 could open the way to $10.50 and $11, while a break back below $9.04 would shift focus to support around $8.49 to $8.58.