Chainlink’s LINK pulled back Wednesday after a week-start rally, following two institution-level developments: Nasdaq-listed Caliber (CWD) disclosed an initial purchase of LINK for its treasury, and Grayscale filed to convert a closed-end fund into a Chainlink ETF.
LINK traded between $22.84 and $24.46 in the past 24 hours, with a 7% intraday swing and a modest 1% net decline, according to CoinDesk Research’s technical model. Volume spiked above the 24-hour average, establishing near-term support around $23 while the intraday high met profit-taking pressure.
Caliber did not disclose how many LINK tokens it bought. The company said it plans to accumulate LINK over time using credit lines, cash and equity securities and intends to stake tokens to generate yield. Caliber’s stock jumped sharply on the news before retracing most gains.
Why this matters: corporate treasury allocations and an ETF path from Grayscale make LINK more visible to institutional flows. That visibility could increase demand over time, but markets can remain volatile. Unspecified purchase sizes, short-term profit-taking and regulatory shifts mean investors should expect price swings.
Source: CoinDesk. Read the original coverage for full details.