Chainlink Institutional Demand Remains Strong Despite Price Pullback
Institutional demand for Chainlink (LINK) remains strong despite its recent price pullback. Over the past 18 days, Grayscale's LINK ETF received around 1.05 million tokens worth approximately $12.12 million from Coinbase Prime.
Bitwise also purchased another 163,664 LINK, valued at roughly $1.91 million, adding to its existing holdings of over 3.9 million tokens with an average acquisition price of $9.96 per token.
The strategic reserve added another 91,100 LINK, worth around $1.06 million, increasing the total reserve holdings to 5.86 million tokens valued at nearly $67.24 million.
Whale activity remained elevated relative to retail participation, with a positive reading of 0.36 on Chainlink's Whale versus Retail Delta, indicating that larger players continued absorbing LINK as price corrected after its recent impulse run.