Chainlink’s native token, LINK, has surged by 6% in the past 24 hours, reaching a notable $24.5. This surge is part of a broader upward trend in the crypto markets, driven by expectations surrounding the potential approval of spot-based ETFs. As large-cap altcoins are outpacing others, LINK is at the forefront of this rally.
The ETF Anticipation
The cryptocurrency sector is abuzz with speculation about the U.S. Securities and Exchange Commission’s (SEC) possible approval of spot-based Exchange-Traded Funds (ETFs). This development has fueled optimism across the market, as investors anticipate that such approval could pave the way for increased institutional participation. If the SEC gives the green light, it could include Chainlink’s LINK among others, especially since numerous applications have been filed earlier this year.
Moreover, LINK futures are actively traded on U.S.-regulated exchanges like Coinbase Derivatives, indicating a solid foundation for the token’s potential inclusion in ETFs. This scenario is helping to build a positive sentiment around LINK, contributing to its recent price action.
Chainlink’s Treasury Moves
Adding to the excitement is the strategic move by Caliber (CWD), a public wealth management firm, which has recently embraced a Chainlink treasury reserve asset initiative. On Thursday, Caliber announced the purchase of $6.5 million worth of LINK tokens as part of its broader digital asset strategy. This acquisition marks a significant commitment to the token and highlights growing institutional interest.
The Chainlink Reserve itself has been actively acquiring LINK tokens. On the same day, it purchased an additional 43,000 LINK, translating to about $1.05 million. This initiative is akin to public companies’ share buyback programs, where tokens are purchased using revenue from protocol integrations and services. Since August, the reserve has accumulated 323,116 tokens, worth approximately $7.9 million, according to available data.
Technical Analysis Insights
LINK’s upward momentum is supported by technical indicators, as highlighted by CoinDesk’s Research’s technical analysis data. The token has established a robust support level at $22.82, with high-volume confirmation of 5.56 million units, significantly surpassing the 24-hour average of 1.48 million units. This strong support suggests a solid base for further price appreciation.
Furthermore, LINK has breached multiple resistance levels, including $24.16 and $24.42, indicating sustained purchasing pressure. The formation of ascending lows during the recovery phase underscores consistent upward momentum, suggesting that LINK’s bullish trend could continue in the near term.
A Balanced Perspective
While LINK’s recent performance and the strategic moves by Caliber and the Chainlink Reserve are encouraging, it’s essential to adopt a balanced perspective. The crypto market is notoriously volatile, and while the potential approval of spot-based ETFs could be a game-changer, it remains speculative at this stage. Investors should remain cautious and consider the inherent risks associated with digital assets.
At the same time, the growing institutional interest, as evidenced by Caliber’s substantial investment, signals a maturing market that could attract more traditional finance players. As Chainlink continues to strengthen its position through initiatives like the treasury reserve asset, the token’s long-term prospects appear promising.
In conclusion, Chainlink’s LINK is experiencing a significant surge, fueled by ETF anticipation and strategic treasury moves. As the market evolves, keeping an eye on regulatory developments and institutional participation will be crucial for assessing LINK’s future trajectory. For now, LINK remains a token to watch, as it navigates the dynamic landscape of the cryptocurrency market.
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
