Chainlink’s LINK Rises 6% Amid ETF Hopes and Treasury Purchases
- Chainlink’s native token, LINK, surged by 6% to over $24.5 in the last day.
- Caliber (CWD) purchased $6.5 million worth of LINK as part of its digital asset strategy.
- The Chainlink Reserve acquired an additional 43,000 LINK tokens for $1.05 million on the same day.
- Since August, the reserve has accumulated a total of 323,116 LINK tokens valued at $7.9 million.
- Technical indicators show strong support at $22.82 with significant buying volume exceeding daily averages.
The recent price increase is attributed to optimism surrounding potential spot-based ETFs and substantial purchases by firms like Caliber and the Chainlink Reserve, which are aligning with market trends in digital assets.
LINK’s price movement reflects robust market interest, particularly after accumulating over $7.9 million worth of tokens since August through strategic purchases.(Source)
