- Saudi Awwal Bank taps Chainlink to build regulated on-chain financial applications
- LINK exchange reserves fall to multi-year lows, signaling accumulation
- LINK price holds support near $23 but faces strong resistance around $25
The Chainlink token LINK remains steady around $23 as institutional partnerships broaden and exchange balances fall to multi-year lows.
A push into AI infrastructure combined with tightening token supply has set the stage for a potential breakout, although traders remain cautious around key resistance levels.
Saudi Awwal Bank partners with Chainlink for regulated blockchain finance
Saudi Awwal Bank, one of the kingdom’s largest banks with more than $100 billion in total assets, has signed an agreement with Chainlink to develop regulated on-chain financial applications.
Developers at the bank will use Chainlink’s Cross-Chain Interoperability Protocol (CCIP) and the Chainlink Runtime Environment (CRE) to build tokenized applications that connect 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
This agreement aligns with Crown Prince Mohammed bin Salman’s Vision 2030, which aims to diversify the economy beyond oil revenues.
By partnering with Chainlink, the bank is paving the way for tokenized capital markets — a sector estimated to be worth more than $2.3 trillion in Saudi Arabia.
The move could accelerate the adoption of regulated blockchain infrastructure in the region, positioning Chainlink at the center of institutional finance in the Middle East.
Institutional push meets Chainlink’s AI expansion
The Saudi agreement follows additional strategic moves by Chainlink.
On September 16, Chainlink announced it joined AethirCloud’s AI Unbundled Alliance, a program designed to build Web3 AI infrastructure.
Through this initiative, Chainlink will provide the CRE platform to developers working on decentralized, AI-driven applications, and it will support targeted hackathon prizes and grants.
Joining the alliance expands Chainlink’s role beyond decentralized finance (DeFi) into verifiable AI workflows that operate on-chain and in legacy systems.
This broadens Chainlink’s appeal and positions LINK as critical infrastructure for the next phase of Web3 adoption.
LINK exchange reserves show sustained accumulation
While headlines about adoption are encouraging, on-chain data offers a clearer signal.
The number of LINK tokens held on centralized exchanges fell from nearly 200 million in 2023 to about 158.1 million by 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 suggests long-term holders are accumulating, reducing the supply available for immediate sale.
Historically, quick drops in exchange reserves have often preceded major rallies.
This trend, combined with growing institutional partnerships, strengthens the bullish case for LINK even as the market shows recent hesitation.
Notably, shrinking reserves indicate tighter liquidity, which could amplify price moves if demand rises.
Chainlink price outlook points to a possible breakout
The current mix of tighter supply, 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 rising demand meets reduced token availability.
At the time of reporting, LINK trades at $23.28 with a market capitalization of $15.79 billion, according to CoinGecko data.
The token traded between $23.18 and $23.73 in the past 24 hours and is up more than 119% year-over-year.
However, it still sits about 55% below its all-time high of $52.70 from May 2021.
Technical indicators suggest a period of consolidation, with LINK holding support above $23.
Bullish momentum faces significant resistance at $25 — a decisive close above that level could open the way toward $26.10 and higher.
If adoption in Saudi Arabia accelerates and AI partnerships drive demand, traders believe Chainlink can overcome resistance and target higher levels, with some analysts pointing to $52 as a potential milestone by year-end.
Conversely, a break below $23 risks a retreat toward $20 or even $19.53, levels analysts view as important support zones.