Chainlink Rallies 6% Amid Treasury Buyback and ETF Anticipation

Chainlink’s LINK token rallied nearly 6% in the past 24 hours, moving above $24.50 on Thursday, as institutional buying and growing optimism around crypto ETFs lifted the broader altcoin market.

Institutional Demand Strengthens

Wealth manager Caliber (CWD) announced a $6.5 million LINK acquisition as part of its digital asset treasury strategy. On the same day, the Chainlink Reserve added 43,000 LINK (approximately $1.05 million) to its holdings. The reserve initiative directs revenue from protocol services into LINK purchases, drawing parallels with corporate share buybacks.

Since August, the program has accumulated over 323,000 tokens, valued at nearly $7.9 million, underscoring consistent institutional-scale demand.

ETF Speculation Adds Momentum

Market sentiment has been buoyed by expectations that the SEC could soon approve spot-based crypto ETFs, following progress on broader listing frameworks. LINK futures, already trading on U.S.-regulated venues such as Coinbase Derivatives, strengthen the case for Chainlink’s inclusion, with multiple ETF applications submitted earlier this year.

Technical Indicators Point Higher

CoinDesk Research highlighted bullish technical signals for LINK:

• Support anchored at $22.82 with trading volumes of 5.56 million, far exceeding the 24-hour average of 1.48 million.
• Resistance levels at $24.16 and $24.42 were cleared, confirming strong buyer momentum.
• A steady series of higher lows reflects continued upward momentum during the recovery.

With sustained treasury accumulation and ETF optimism providing tailwinds, LINK’s market structure appears positioned for further gains if current momentum holds.