Grayscale’s Chainlink Trust (GLINK) Attracts Institutional Investors
Grayscale’s Chainlink Trust (GLINK) is currently trading at a 223% premium, indicating strong interest from institutional investors in the digital asset investment product. The trust provides institutions with exposure to Chainlink (LINK) without directly investing in the crypto asset.
GLINK Performance and LINK’s Outperformance
GLINK is selling for $44.11 a share, providing exposure to around 0.93 LINK, valued at $13.62. Grayscale’s product has surged by around 120% in the past month.
Meanwhile, LINK has outperformed most of the crypto market, trading at $14.95 and recording gains of nearly 13% in the past 24 hours, over 28% in the past week, and more than 105% in the past month, compared to the overall crypto market cap’s 25% increase over the same period.
Crypto Analysts’ Take on LINK’s Future
The Flow Horse believes that LINK could just be starting its uptrend and suggests that current price levels may seem insignificant in the future as the crypto market continues to grow. On the other hand, Rekt Capital anticipates a potential dip for LINK to around $11 to retest its previous resistance line.
Hot Take: Opportunities and Risks for LINK Investors
As GLINK continues to attract institutional investors at a premium price, and LINK outperforms the broader crypto market, both opportunities and risks exist for potential investors. It is essential to carefully consider these factors before making any investment decisions in this volatile market.
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