LINK Price Jumps 20% as First Chainlink ETF Goes Live

LINK Price Surge and Market Rally

The cryptocurrency LINK, native to the Chainlink blockchain, surged by 20% on Dec. 3 amid a broader crypto market rally.
This surge coincided with the launch of the first-ever Chainlink ETF by Grayscale.
LINK's price recovered from November's selling pressure, gaining 20% in 24 hours and trading at $14.38.
Daily trading volumes for LINK rose by 84% to $1.12 billion.
LINK futures open interest increased by 24% to over $630 million.
Technical analysis suggests a potential move towards the $20 level.

Grayscale Chainlink ETF Launch

The Grayscale Chainlink ETF (GLNK) began trading on the NYSE on Dec. 2, marking the first US spot product offering direct access to LINK.
The ETF converted from an existing Chainlink Trust, enhancing institutional access to LINK.
On its opening day, GLNK traded 1.17 million shares, significantly above its average daily volume as a private trust.
GLNK's first-day trading volume was approximately $14 million, capturing nearly half of Coinbase’s typical daily LINK volume.