Chainlink's LINK token experienced a 7% surge on 17 January, trading at $16, its highest value since 29 December 2021.

This growth solidified its position as the 11th largest cryptocurrency by market capitalisation.

Bitcoin's price traded 2% down over the same period, with LINK outperforming both Ether and Solana.

The increase in value is believed to be driven by expectations of the tokenisation of real-world assets and indications of institutional adoption of Chainlink’s oracle and decentralised computing solutions.