Chainlink Reserve buys 94,500 LINK as US ETFs see outflows

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Analysis: the Chainlink Reserve added 94,500 LINK on November 5, and $1.06 million left the US ETFs on November 6. Which flow carries more weight, which price levels matter now and why the holding period does not apply to an ETN.The Chainlink Reserve fills up steadily with LINK from usage fees.Add as a preferred source on GoogleFollow on Google NewsWhat is documented: the Chainlink Reserve added another 94,500 LINK on November 5 and now holds around 6.57 million tokens, while investors pulled roughly $1.06 million out of the two US spot ETFs on LINK on November 6. Our assessment follows further down: the reserve's steady buying is a structural signal, but at its current size it has so far not been able to counter the downtrend in the price. Chainlink trades at $10.72 on Sunday morning, or €9.62, according to CoinGecko. That puts the token 1.2 percent below its level on Saturday morning, 8.6 percent below the price a week ago and 16.7 percent below where it stood 30 days ago. It ...