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Chainlink’s native token LINK surged over 7% in the past 24 hours, outperforming the broader crypto market as investor enthusiasm grew following the debut of the first U.S.-listed spot Chainlink ETF. The newly launched Grayscale Chainlink Trust ETF (GLNK), converted from a closed-end fund and now trading on NYSE Arca, recorded an impressive $37 million in net inflows on its opening day, according to SoSoValue data. This development marks a significant step forward for institutional adoption, offering traditional investors streamlined access to LINK through familiar brokerage channels.
Market activity around LINK accelerated sharply, with trading volume soaring 183% above its typical 24-hour average. At its peak, 6.71 million tokens changed hands at 14:00 UTC as LINK briefly climbed to $14.63 before encountering resistance. Despite the pullback, market data from CoinDesk Research highlighted a bullish structure, with LINK consistently forming higher lows and maintaining an upward trend from its $13.35 base.
LINK’s strong momentum allowed it to outperform most major cryptocurrencies, boosted by both the ETF catalyst and a wider market rotation into tokens backed by clear real-world utility. While the CoinDesk 5 Index saw a solid 3.3% increase, LINK exceeded the benchmark by more than four percentage points, underscoring heightened interest in the asset.
Technical indicators show strong support around $14.28, reinforced by psychological demand at $14.40. Resistance remains at the session high of $14.63. Analysts note that recent consolidation between $14.395 and $14.445 may serve as a launchpad for another breakout if buying pressure holds. A retest of $14.63 appears likely in the near term, with broader upside potential if bulls maintain control above key support levels.
With institutional inflows rising and technical signals aligning, LINK continues to position itself as one of the standout performers in the current crypto landscape.
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