Coinspeaker
9 hour ago
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Chainlink Reserve Surpasses 1 Million, Analyst Predicts 1000% LINK Surge

Chainlink Reserve Reaches 1 Million LINK

  • Chainlink Reserve has surpassed 1 million LINK, adding 81,131 LINK to total 1,054,884.02 LINK.
  • The reserve accumulates LINK through fees from institutional and decentralized applications.
  • Average cost basis is $18.59, higher than the current trading price of $14, indicating strategic buy-on-dip actions.

Chainlink Reserve Activity | Source: Chainlink Reserve

Potential LINK Price Surge

  • LINK price increased by 20% following the launch of Grayscale's Chainlink ETF but faced resistance at $15.
  • Analyst Crypto Patel predicts a possible 1000% increase, suggesting a future price of $150 if market conditions improve.
  • Key accumulation zone identified between $14 and $10, with critical support at $9.80.

LINK price potential upside | Source: Crypto Patel

  • Grayscale's Chainlink Trust was converted into an ETF, recording nearly $42 million in inflows on its first trading day.
  • Bitwise and other asset managers plan to launch their own LINK ETFs.