Europe’s Largest Asset Manager Just Chose Chainlink, But LINK Still Can’t Break $10

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Analytics

Amundi and Spiko have launched the tokenized SAFO fund. They use Chainlink as the oracle infrastructure to record Net Asset Value (NAV) directly on the blockchain.

However, despite positive on-chain signals, $LINK price has failed to break above $10 since February.

Amundi And Spiko Partner With Chainlink to Launch SAFO

Amundi, Europe’s largest asset manager with about €2.4 trillion in AUM, has partnered with the tokenization platform Spiko to launch the $100 million Spiko Amundi Overnight Swap Fund (SAFO).

A key highlight of SAFO is its use of Chainlink as oracle infrastructure. The system records NAV directly on the blockchain, including Ethereum and Stellar.

Chainlink pulls NAV data from Amundi. It writes this data on-chain in near real time. Anyone accessing the related smart contracts can independently verify pricing data. This improves transparency and trust in reporting.

Beyond automated NAV reporting, Chainlink also provides cross-chain interoperability.

These developments strengthen Chainlink’s role in the trend toward real-world asset tokenization.

“Amundi, Europe’s largest asset manager is using Chainlink for the distribution of its tokenised fund. One by one, every tokenized asset is adopting the Chainlink standard, amplifying the network effect and distribution by the day.” – Johann Eid – Chief Business Officer at Chainlink, stated.

Clear Signs of $LINK Accumulation, But Price Remains Stuck

Alongside the SAFO launch, on-chain data shows rising $LINK accumulation over the past month.

According to CryptoQuant, $LINK reserves on exchanges dropped from 130 million to 127.6 million. This suggests investors are withdrawing $LINK from exchanges. It helps reduce selling pressure.

Chainlink Exchange Reserve. Source: CryptoQuant

In addition, spot $LINK ETFs in the US recorded their largest daily inflow in the past two months. This reflects growing institutional interest through traditional channels.

Data from SoSoValue shows $LINK net inflow on March 19 reached $3.34 million. This marks the highest level since January 20.

$LINK ETFs Daily Total Net Inflow. Source: SoSoValue

Despite these positive signals, $LINK’s price still struggles to break above the $10 level, a key psychological resistance.

Since 2025, $LINK has remained in a downtrend. It continues to form lower highs and lower lows. The price has declined by about 70%. Ongoing macro caution continues to limit upside momentum for altcoins.