Chainlink's cryptocurrency, LINK, has seen a surge in price to over $16 due to large purchases by investors.

This has led to a growth rate of 143% overall and 93% compared to Bitcoin in the past five months.

The accumulation of LINK by whales is a sign of confidence in its price growth.

Unchanged interest rates by Federal Reserve Chair Jerome Powell positively influenced the crypto markets, with Bitcoin reacting more positively than altcoins.

Chainlink whales have been increasing their holdings of LINK tokens, with the largest 200 wallets accumulating over $50 million worth.

There has been a decrease in LINK's balance on exchanges, indicating a shift towards long-term holding and bullish sentiment.

Despite an error in Chainlink's price feed on Arbitrum, the company has assured it poses no systemic risk and will reimburse affected users.

Chainlink's positive market sentiment and the growing adoption of its Cross-Chain Interoperability Protocol have contributed to its 189% price growth year-to-date.