Flow

Chainlink

Rekt

<div class="dailyhodl">
 <p>Grayscale’s Chainlink Trust (GLINK) is currently trading at a 223% premium, signaling institutional investors are particularly eager to get their hands on the digital asset investment product.</p>
 <p>The trust offers institutions a way to gain exposure to the native asset of decentralized oracle provider Chainlink (LINK) without directly investing in the crypto asset.</p>
 <div class="code-block code-block-055f5289fd7e731bb72be7c5a19d18ed code-block-1">  
 </div>
 <p>GLINK is selling for $44.11 a share at time of writing, and each share offers exposure to around 0.93 LINK, an amount that is currently only worth $13.62. Grayscale’s product is up around 120% in the past month.</p>
 <p>The trust’s massive gains have materialized while LINK itself has outperformed the vast majority of the crypto market. The 12th-ranked digital asset by market cap is trading at $14.95 at time of writing and is up nearly 13% in the past 24 hours, more than 28% in the past week, and more than 105% in the past month.</p>
 <p>By comparison, the overall crypto market cap is up around 25% over the past 30 days.</p>
 <p>Pseudonymous crypto analyst The Flow Horse said recently that&nbsp;LINK could just be kicking off its uptrend.</p>
 <p><em>“[People are] worried about buying LINK… because they feel they missed it. I think that between the $11.00 and $8.50 is going to look like a rounding error if we’re talking a year, two years into the future as the crypto market continues to grow.”</em></p>
 <p>Pseudonymous analyst Rekt Capital, however, says LINK will likely dip to around the $11 level at some point to retest its previous resistance line, which he says was recently broken.</p>
 <p><em>“Previous revisits of the monthly macro downtrend ended up in upside wicks, which is why a retest of the macro downtrend as support may be needed to confirm further trend continuation to the upside, especially if a rejection from red occurs soon.”</em></p>
 <p class="p1"></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/grayscale-s-chainlink-trust-glink-explodes-223-as-link-outperforms-crypto-market-tbt69706.html">https://thebittimes.com/grayscale-s-chainlink-trust-glink-explodes-223-as-link-outperforms-crypto-market-tbt69706.html</a></p>

Grayscale’s Chainlink Trust (GLINK) Explodes 223% As LINK Outperforms Crypto Market

TheBitTimes

Other articles published on Nov 9, 2023

Spot ETF optimism boosts Bitcoin to $37K while Shiba Memu presale buying interest grows

Japanese Finance Giant SBI Holdings Decided to Invest in Web3, Artificial Intelligence and Metave...

Revelation Stock: What to Expect With REVB Stock in 2024

Harga Solana (SOL) Sasar US$46-47 di Skala Harian

Sui Provides ZK Compute for Web3 Games

AI’s Impactful Journey in Reducing Sudden Cardiac Death Risks

Join our free newsletter for daily crypto updates!