ChainCatcher reports that the Chainlink network recorded 282,170 and 264,090 unique active LINK addresses on May 9 and 10, respectively—the highest levels since September 2025. This surge in on-chain activity coincides with multiple institutional-grade DeFi projects announcing their migration of cross-chain infrastructure to Chainlink CCIP. On May 7, Solv Protocol announced it had completed a security review following the April Kelp DAO vulnerability incident and decided to migrate over $700 million in tokenized Bitcoin assets (SolvBTC and xSolvBTC) from LayerZero to Chainlink CCIP. Previously, Kelp DAO also announced its plan to migrate its rsETH infrastructure to Chainlink CCIP. These moves represent a significant shift of institutional-grade DeFi infrastructure from LayerZero to the Chainlink cross-chain ecosystem. Additionally, data from earlier this month showed that whale wallets holding between 100,000 and 10 million LINK increased their holdings by 32.93 million LINK over a 30-day period.
Chainlink on-chain active addresses reach an 8-month high amid institutional DeFi migration
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Summary
On-chain data shows Chainlink active addresses reached an eight-month high, with 282,170 and 264,090 unique LINK users on May 9 and 10, respectively. Institutional DeFi projects such as Solv Protocol and Kelp DAO have migrated their infrastructure to Chainlink CCIP. Solv transferred $700 million in tokenized Bitcoin following a security review, while Kelp DAO moved rsETH. Whale wallets added 32.93 million LINK over the past 30 days. Rising DeFi exploit risks may drive more projects to adopt secure cross-chain solutions.
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