Chainlink LINK Price Dips Despite Strong ETF Accumulation, Charts Suggest Further Correction
Chainlink's LINK token is trading around $11.95 as institutional investors continue to build positions through spot ETFs. Grayscale and Bitwise have absorbed over 1% of the circulating supply—approximately $85.34 million—with zero weekly outflows since launch. This steady institutional demand contrasts with the muted price action, indicating that deeper discounts may be needed before a sustained upward move.
The protocol's strategic reserves have grown to 1.68 million LINK, supported by diversified revenue streams. On-chain data confirms ongoing accumulation, but the current market structure suggests investors need patience before bullish catalysts can overcome the present technical weakness.