Gate News Bot reports that as of December 3, according to CoinMarketCap data, LINK (Chainlink) is currently trading at $14.23, up 17.59% in the past 24 hours, with a high of $14.23 and a low of $11.76. The 24-hour trading volume reached $974 million. The current market capitalization is approximately $9.919 billion, an increase of $1.484 billion compared to yesterday.
Chainlink is the industry-standard oracle platform that supports decentralized finance and drives capital markets on-chain. Chainlink provides reliable external data sources for smart contracts, enabling them to securely interact with off-chain resources.
Key recent news about LINK:
1️⃣ First Chainlink Spot ETF Set to Launch
The Grayscale Chainlink Trust ETF (ticker: GLNK) has been approved by NYSE Arca and will officially begin trading this Tuesday. This is the first Chainlink (LINK)-related exchange-traded product (ETP) in the US, providing institutional investors with a new direct access channel to LINK. The ETF has a management fee rate of 0%, which is expected to attract more investor attention.
2️⃣ Exchange LINK Supply Drops to Multi-Year Low
According to CryptoQuant data, the circulating supply of LINK on exchanges has dropped to its lowest level since 2020. Historical trends show that when exchange balances decrease and the long-term accumulation trend continues, it often signals a supply squeeze, which could drive prices higher if demand increases.
3️⃣ Chainlink Reserve Continues to Accumulate LINK
The latest data from Chainlink’s official reserves show that its holdings have increased to approximately 974,000 LINK tokens, valued at about $12.89 million. The continued accumulation by the reserve reflects the project’s confidence in LINK’s long-term development and may have a positive impact on market sentiment.
From a technical perspective, the LINK price has broken through previous resistance levels, showing strong upward momentum. However, investors should remain cautious of potential short-term volatility around the initial ETF launch. On the fundamentals, Chainlink’s importance as DeFi infrastructure is rising, and its co-founder expects DeFi to achieve 100% global adoption by 2030, offering potential long-term support for LINK.
This information does not constitute investment advice. Investors should be aware of market volatility risks.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
$LINK and $PIPPIN Outshine AI Agent Projects By Social Activity
The article discusses the Top 10 AI Agent Projects in cryptocurrency based on social activity, revealing Chainlink ($LINK) as the leader. It highlights engagement and interaction metrics for various projects, indicating strong interest and demand in the market.
BlockChainReporter2h ago
Ethereum Network Activity Claims New ATH Indicating Bullish Divergence
The Ethereum network has reached a new all-time high in activity, signaling its growing utility beyond speculation. Factors like L2 scaling and DeFi are driving this surge, suggesting strong long-term growth potential for Ethereum ($ETH).
BlockChainReporter2h ago
FLOW Recovers From Prolonged Downtrend As Buy-Side Liquidity Builds, Triggering a Potental 22% Br...
The Flow (FLOW) coin is attracting investor interest as its on-chain market continues to pick up fresh momentum, according to a revelation disclosed today by financial analyst Crypto Patel. As per the data posted today, the cryptocurrency has developed a clear bull structure and is displaying a
BlockChainReporter2h ago
PEPE Price Holds Support as Bearish Bets Build Pressure
Key Insights:
PEPE price stabilizes near strong support despite sustained negative funding rates, highlighting a clear divergence between trader sentiment and actual market behavior.
Declining open interest and reduced liquidation activity indicate leverage reset, suggesting the market has c
CryptoNewsLand3h ago
Zcash Price Rally Gains Pace as Shielded Pools Hit Record
Key Insights:
Zcash surged 25% daily and over 60% monthly as strong demand for privacy features drove increased investor participation across the network.
Shielded pool holdings reached $5.18 billion, showing over 31% of supply now locked in private transactions, signaling stronger user
CryptoNewsLand3h ago
'Bitcoin ETF Performance Pales Next to Gold': Mike McGlone - U.Today
Mike McGlone, a Bloomberg strategist, argues that Bitcoin ETFs may not drive long-term growth for Bitcoin, which has underperformed compared to gold. Despite recent gains, Bitcoin's performance seems capped, suggesting a potential peak in crypto enthusiasm.
UToday4h ago
