- Saudi Awwal Bank partners with Chainlink to develop regulated on-chain finance applications.
- LINK exchange reserves have fallen to multi-year lows, indicating accumulation.
- LINK’s price is holding near $23 but faces strong resistance around $25.
Chainlink’s LINK token is finding support near $23 as strategic partnerships expand and exchange balances decline to multi-year lows.
The convergence of institutional adoption, a push into artificial intelligence (AI) infrastructure, and tightening token supply sets the stage for a possible breakout, though traders remain cautious at key resistance levels.
Saudi Awwal Bank partners with Chainlink for blockchain finance
Saudi Awwal Bank, one of Saudi Arabia’s largest banks with more than $100 billion in assets, has signed an agreement with Chainlink to build regulated on-chain finance applications.
Bank developers will use Chainlink’s Cross-Chain Interoperability Protocol (CCIP) and Chainlink Runtime Environment (CRE) to develop tokenized applications that can link Saudi markets with global blockchain networks.
Saudi Awwal Bank (@alawwalsab), one of Saudi Arabia’s largest banks with over $100 billion in total assets, is leveraging several Chainlink services to facilitate the deployment of next-generation onchain applications in Saudi Arabia.
Under the innovation agreement, SAB is… https://t.co/DAvUawI3Yg pic.twitter.com/Zhlm1GJdGp
— Chainlink (@chainlink) September 16, 2025
The agreement aligns with Saudi Arabia’s Vision 2030, which seeks to diversify the economy beyond oil revenue.
By partnering with Chainlink, the bank is paving the way for tokenized capital markets in a country where capital markets represent a multi-trillion-dollar opportunity.
This collaboration could accelerate adoption of regulated blockchain infrastructure in the region, positioning Chainlink at the center of institutional finance in the Middle East.
Chainlink’s institutional push meets AI expansion
The Saudi deal coincides with another strategic development.
On September 16, Chainlink announced it had joined AethirCloud’s AI Unbundled Alliance, an initiative aimed at advancing Web3 AI infrastructure.
Through this alliance, Chainlink will offer its CRE platform to developers building AI-powered decentralized applications and will support innovation through hackathon bounties and targeted grants.
Joining the alliance extends Chainlink’s role beyond decentralized finance (DeFi) to enabling verifiable AI workflows across both blockchain and traditional systems.
This broadens Chainlink’s utility and strengthens LINK’s position as a foundational piece of infrastructure for the next phase of Web3 adoption.
Shrinking LINK reserves indicate accumulation
Alongside adoption headlines, on-chain metrics suggest a clearer signal.
The number of LINK tokens held on centralized exchanges has fallen from nearly 200 million in 2023 to about 158.1 million as of September 2025.
$LINK on exchanges hit a multi-year low while the biggest institutions on the planet are adopting Chainlink pic.twitter.com/0g78TjNZDu
— Quinten | 048.eth (@QuintenFrancois) September 16, 2025
The steady decline in exchange reserves points to accumulation by long-term holders and reduces supply available for immediate sale.
Historically, sharp declines in exchange-held balances have often preceded major rallies.
This trend, coupled with growing institutional engagement, supports a bullish case for LINK despite short-term market caution.
Lower exchange reserves indicate tightening liquidity that could amplify a price move if demand increases.
Chainlink price outlook: potential breakout
The mix of supply-side contraction, expanding institutional use cases, and Chainlink’s move into AI infrastructure creates a constructive backdrop for LINK.
Short-term sentiment remains cautious, but the longer-term setup favors growth as demand meets reduced token availability.
At the time of reporting, LINK traded around $23.28 with a market capitalization near $15.79 billion, according to market aggregators.
The token has shown limited intraday movement recently and remains significantly up over the past year, though it still sits well below its 2021 all-time high of $52.70.
Technically, LINK appears to be consolidating with support around $23. Bulls must clear heavy resistance near $25 for a sustained move higher; a decisive close above $25 could open the path to $26.10 and beyond.
If institutional adoption in Saudi Arabia advances and the AI alliance generates tangible traction, Chainlink could overcome resistance and target higher levels, with some optimistic analysts citing previous highs as potential longer-term objectives.
Conversely, a break below $23 could see LINK retreat toward $20 or $19.53, levels traders and analysts view as important support zones.