Chainlink Price Drops 16% Amid Decline in Key Metrics

Chainlink's Decline and Market Concerns

Chainlink (LINK) has been experiencing a steady decline in price, with key metrics at their lowest levels.
The price is currently $12.28, marking a 2.54% decrease over the last 24 hours.
LINK's price has dropped 16% from its monthly high and around 55% from its YTD high.
The market cap stands at $8.71 billion, ranking it as the 12th largest cryptocurrency.
Price declines are attributed to macroeconomic factors like U.S. tariffs and Federal Reserve interest rate policies.
Chainlink's DeFi Total Value Locked (TVL) decreased from over $1.13 billion in August to approximately $545 million now.
There has been a consistent drop in weekly fees since September, indicating reduced demand for Chainlink services.

Market Outlook

Despite the decline, some analysts anticipate a significant rally for LINK in the future.