Grayscale Buys $1.53M in Chainlink Tokens for GLNK ETF

Grayscale has made another significant purchase of Chainlink (LINK) tokens for its GLNK ETF. The company acquired $1.53 million worth of LINK, bringing its total holdings to 10.66 million and increasing its assets under management (AUM) to around $124.16 million.

The price action on the 4-hour chart shows LINK trading at $12.05 within the Bollinger Bands with an upper resistance level at $12.25. The Relative Strength Index (RSI) is flashing overbought at 83.36, and the Moving Average Convergence Divergence (MACD) holds a golden cross at 0.6.

This institutional accumulation may influence LINK price prediction models, while crypto ETF flows and Grayscale's LINK holdings updates can impact market positioning ahead of broader moves.