TheCryptologist

$LINK Reserves Surge to $9.3M as ETF Speculation Builds

$LINK is showing strong on-chain fundamentals while price action lags. The network’s Strategic Reserve now holds 417,461 LINK ($9.3M) with an average cost basis of $22.51. On Oct 2 alone, inflows added 46,000 LINK, reflecting accelerating institutional adoption.

Despite this, LINK trades at $22.30, still below the 2024 high of $27. Yet, market signals point bullish: whale accumulation is rising, exchange balances are falling, and 1,900+ new wallets were created in a single day - a clear sign of expanding demand.

Adoption is also broadening. In September, the BUILD program onboarded DualMint, bridging real-world assets (RWA) with DeFi. This positions Chainlink at the center of both decentralized and traditional finance integration.

The ETF narrative adds further momentum. With Solana, XRP, and DOGE ETFs already under review, speculation of a LINK ETF is heating up. Grayscale and Bitwise have filed applications, and approval could unlock significant institutional flows.

Technically, LINK holds above $22 support, with resistance at $27–30. A breakout could target $44, while losing $20–22 may pause momentum. Fundamentally, reserves, adoption, and ETF catalysts suggest LINK is preparing for its next major move.

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