Chainlink's price surged 4.29% to $8.22 in the latest session, driven by buyer momentum across the broader cryptocurrency market.
The token has risen 7% over the last week, maintaining its short-term positive trajectory.
Traders are now watching June CPI and PPI releases for signs of easing inflation, which could support expectations for a more dovish Federal Reserve policy outlook ahead.
The rise in Chainlink's open interest by 10% and trading volume by 18.34% to $337.08 million indicates increased market participation and traders setting up for potential price changes.