Crypto
Chainlink Surges to Seven-Month High on Strong Institutional Demand
Chainlink [LINK] has seen an uptrend in recent days, reaching its highest price in seven months at $12.60 before retracing to $11.76.
The trading volume climbed 84% to $1.2 billion during the volatile move, reflecting elevated market activity.
However, Chainlink's retreat coincided with considerable capital leaving the futures market, with CoinGlass recording $410.29 million in Futures Outflows compared to $390.9 million in Futures Inflows.
The institutional demand for LINK remains strong, with Chainlink Spot ETFs recording five consecutive days of Net Inflows, and Grayscale receiving 132,950 LINK worth $1.53 million from Coinbase Prime.