Chainlink Adds $1.12M Worth of LINK to Reserve Wallet

Chainlink, a leading decentralized oracle network, has purchased $1.12 million worth of its native LINK token and added it to a dedicated reserve wallet.

The transaction, reported by blockchain tracker Onchain Lens, brings the reserve's total holdings to 5.48 million LINK, valued at roughly $48.5 million at current prices.

This buyback is part of Chainlink's ongoing strategy to manage its token supply and demonstrate confidence in the network's long-term value.

The average acquisition cost for these tokens stands at $11.14 per LINK, suggesting that Chainlink believes the token is undervalued.