Key Notes
- The Chainlink reserve milestone shows strong confidence in the project with an average LINK cost basis of $18.59.
- Analysts project a potential 1000% LINK price rally, with key accumulation at $14–$10.
- Institutional interest is rising, highlighted by Grayscale’s new Chainlink ETF (GLNK), which saw nearly $42 million in first-day inflows.
Chainlink Reserve, the official LINK reserve built by the oracle services blockchain network, has hit 1 million after the latest accumulation. This milestone comes just within four months of launching the official LINK reserve facility. LINK
LINK
$13.55
24h volatility:
5.8%
Market cap:
$9.43 B
Vol. 24h:
$668.34 M
price remains on investors’ radar, with some experts predicting a 10x rally ahead.
Chainlink Reserve Hits 1 Million Milestone
Earlier today, the Chainlink reserve address added 81,131 LINK, thereby taking its total holdings past the 1 million mark. The reserve now holds 1,054,884.02 LINK in total.
Chainlink Reserve Activity | Source: Chainlink Reserve
According to the official data, the average LINK cost basis currently stands at $18.59. This is much above the current LINK trading price of $14. However, it also shows a smart accumulation done by the Chainlink platform on every dip.
Earlier in August, Chainlink officially launched its Chainlink Reserve facility. This is an on-chain reserve that accumulates LINK using revenue generated from institutional and decentralized application fees. The reserve is funded through Chainlink’s Payment Abstraction system, which collects fees in various assets and automatically converts them into LINK.
LINK Price Can Rally 1000%, Says Expert
LINK price has shown some volatility recently, with the first Chainlink ETF from Grayscale, going live earlier this week. The LINK price bounced back 20% from the lows of $12. However, it is once again facing rejection at $15.
Popular crypto market analyst Crypto Patel still believes that the LINK price can surge 1000% from the current levels. Citing strong technical conditions, the expert noted that Chainlink could reach $150 in the next bull cycle.
LINK price potential upside | Source: Crypto Patel
The analyst stated that the $14–$10 range as a key accumulation zone, with the $9.80 being a critical support for maintaining the broader bullish structure. According to the forecast, potential upside targets include $30, followed by $50+, and ultimately a possible move toward $150 if market momentum strengthens during a broader altcoin rally.
Earlier in December, crypto asset manager Grayscale converted its Chainlink Trust (GLNK) into an ETF, making it among the first in the market. The fund recorded a strong start, clocking nearly $42 million in inflows on its first day of trading. Other asset managers like Bitwise have also submitted their application to bring the LINK ETF to the market.
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
Source: https://www.coinspeaker.com/chainlink-reserve-hits-1-million-expert-calls-for-1000-link-price-rally/