Chainlink (LINK) rises by almost 7% at press time on Wednesday, underpinned by the launch of Grayscale’s LINK Exchange Traded Fund (ETF) on Tuesday. Derivatives data show an increase in retail interest, as futures Open Interest jumps by over 20% in the last 24 hours.
Chainlink (LINK) extends its decline, trading at above $18.00 on Wednesday amid volatility in the broader cryptocurrency market. Since Monday, the oracle token has lost 10% of its value, reinforcing the prevailing bearish outlook.
Chainlink (LINK) price is down by 2% at the time of writing on Friday, inching closer to its 50-day Exponential Moving Average (EMA) at $22.15.