The Chainlink price sits at $14.05 at press time, rising more than 18% over the last 24 hours as market volume accelerated sharply. This move follows a wave of Chainlink news tied to Grayscale’s launch of the GLNK ETF, the first U.S. spot product offering direct exposure to LINK.
The development matters because it introduces a regulated investment vehicle that can consistently channel new flows into LINK. With the Chainlink price responding immediately to day-one activity, sentiment has turned noticeably stronger after several weeks of range-bound trading.
First U.S. Chainlink ETF Becomes a New Source of Market Flow
Grayscale’s decision to convert its existing Chainlink Trust into the publicly traded GLNK ETF marks a structural shift in how institutions can access Chainlink’s native token, LINK.
The ETF traded 1.17 million shares on its first day, roughly twenty-eight times its average volume as a private trust, signaling unusually strong first-day demand.
Data shows that after-hours trading pushed GLNK toward $12, moving almost in lockstep with the accompanying rise in Chainlink’s spot price.
The GLINK exchange-traded fund closed the day with about $14 million in volume. It may look small at first glance, but it’s notable given that Coinbase’s daily LINK turnover sits around $30–$40 million, meaning GLNK generated nearly half of that on its debut.
Chainlink Price Approaches a Major Break Zone
Chainlink is moving in line with an advancing C-wave pattern, according to Elliott Wave analysis by market analyst MoreCryptoOnline.
He maintains that the $14 level influences the overall trend. As long as short-term momentum stays above the $12.72 support level, there is a chance for further intraday strength. There is also extra support around $12.90 and $13.12, creating a group of levels that helps maintain the recovery.
Upside focus is shifting toward $14.59, a level aligned with the 138% Fibonacci extension. Maintaining closes above $14 would give traders more confidence that the LINK price is transitioning into a larger impulsive move rather than remaining in a corrective pattern.
A volume increase of more than 46% to roughly $980 million over 24 hours reinforces the argument that participation is accelerating rather than fading.
The Chainlink price outlook remains positive as long as the coin stays above its support level. A breakout above $14.59 would create renewed momentum, while a drop below $12.72 would weaken the current trend and indicate a short-term reversal.
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