Chainlink Price Stagnant Despite Growing Institutional Exposure

Chainlink's price has been stagnant lately, despite significant developments in its ecosystem. The token has been trading within a narrow range of $10.80 to $12.50, leaving room for either a recovery or a decline.

The recent influx of net inflows into spot LINK ETFs could provide a fundamental boost to the price. For seven consecutive days, these products have recorded net inflows, with $2.68 million added this week alone. This growth has increased institutional exposure to Chainlink and has resulted in roughly 1 out of every 50 LINK tokens being held through these products.

Chainlink's infrastructure is also gaining traction, as evidenced by Metric's adoption of Chainlink Data Streams for pricing real-world assets. This integration comes on the heels of a successful stealth period, during which Metric processed $10 billion in volume.