Chainlink Institutional Demand Remains Strong Amid Price Drops
Chainlink's institutional demand remains strong despite recent price drops, as institutions continue to accumulate LINK tokens. According to data from Bitget, Grayscale and Bitwise together acquired over 1.4 million tokens in a single transaction, with an average acquisition price of around $9.96 per token.
This purchase brings Grayscale's total holdings to over 3.964 million LINK, valued at approximately $67.24 million. The institution's ETF also saw weekly inflows of $5.36 million, marking the second highest amount in its lifetime.
Meanwhile, Chainlink's strategic reserve added another 91,100 tokens, worth around $1.06 million. This brings the total reserve holdings to over 5.86 million LINK, valued at nearly $67.24 million.
The large-holder activity also reinforced the institutional trend, with a positive reading of 0.36 on Chainlink's Whale versus Retail Delta. However, despite the accumulation from whales, the price remains below its recent swing high around $13.70 resistance.