Chainlink Sees Renewed Institutional Interest as Spot ETF Inflows Surge

Chainlink's LINK token has seen renewed institutional interest in recent days, with Spot ETFs recording net inflows totaling over $3.5 million. Bitwise led this demand by purchasing 171,870 LINK worth $1.7 million, increasing its holdings to 3.092 million LINK valued at $30 million.

This institutional buying, combined with reduced LINK supply on exchanges, suggests strong upward momentum for the token. Technical indicators also support a potential price rise above the $10 resistance level if demand continues and LINK stays above $9.