Chainlink Boosts Reserve with $1.13M LINK Buyback

Chainlink has executed a significant buyback of its native token LINK, acquiring $1.13 million worth of tokens through multiple CoWSwap transactions.

The transaction saw Chainlink purchase 139,956.08 LINK, expanding its reserve to 5.35 million LINK valued at approximately $43.9 million.

The average acquisition cost of the tokens was $11.19 per token, reflecting a disciplined approach to treasury management by Chainlink over the past year.

In terms of market performance, the price of LINK currently sits at $8.24 within its Bollinger Bands on the 4-hour chart, with an upper band resistance of $8.26 and support from the EMA50 and EMA200.