Chainlink's LINK token surged 8.3% to over $26 during Wednesday's trading, outperforming major cryptocurrencies like Bitcoin and Ethereum. This rise underscores LINK's role in bridging traditional markets and blockchain, fueled by institutional adoption. Chainlink co-founder Sergey Nazarov's meeting with U.S. Senator Tim Scott to discuss a market structure bill further highlights the token's growing significance. The Chainlink Reserve's token buyback program has also bolstered LINK's price, acquiring 109,664 tokens worth $2.8 million in two weeks, with another purchase planned for Thursday. LINK's price momentum was marked by breaking critical resistance levels on high trading volume before entering a consolidation phase.