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ZEC $1,316 Chainlink price holds $14 as LINK ETF inflows reach three days
Two NYSE-listed Chainlink funds took in $2.62 million on October 1, while LINK traded near $14.45 and open interest sat near $772 million.
Key takeaways
- Three-day streak. The two Chainlink ETFs recorded $2.62 million in net inflows on October 1, per SoSoValue data.
- Open interest steady. Open interest ticked up 0.08% to $771.91 million while derivatives trading volume fell 21.53%.
- Price stays in range. LINK traded at $14.451 on October 2, holding $14 support and staying below $15 resistance.
What happened
Chainlink traded at $14.44, up 0.95% over 24 hours, with the move largely following bitcoin. The token held above $14 support after retreating from a late-September peak, while $15 resistance still marked the breakout level.
The two Chainlink funds listed on the NYSE took in $2.62 million of net inflows on October 1, according to SoSoValue data. Bitwise's CLNK attracted the entire daily inflow, while Grayscale's GLNK saw no net change that session.
Total net assets were $244.34 million, or 2.27% of LINK's market capitalization. Weekly net inflows were $8.30 million. Trading in the pair totaled $14.99 million for the day, and Grayscale's fund made up $14.56 million of it, with Grayscale's net assets at $175.69 million against Bitwise's $68.64 million.
Why it matters
The inflow streak points to steady demand through listed funds. Over the past month LINK has gained more than 30%, which the report ties to the CCIP 2.0 launch, and the advance came alongside the token's third consecutive inflow day.
Derivatives positioning stayed roughly flat. Open interest added 0.08% to reach $771.91 million even as Chainlink derivatives trading volume fell 21.53% to turnover of $589.69 million, leaving exposure steady on thinner activity.
The wider market added to the backdrop, with total market capitalization rising 2.37% to $2.93 trillion. Bitcoin traded above $86,000, ether above $2,700, and XRP added 3% to reach $1.53.
What the data shows
On the four-hour chart, the relative strength index was 52.27, a modest positive bias close to neutral. The MACD line sat at 0.048, below its signal line at 0.083, with the histogram at -0.035.
A break above $15 could open the way toward $16. Defending $14 would keep the consolidation intact, while a failure could bring $13 back into focus and a deeper drop could test support near $12.20 that held in September.
What is still unclear
- Analyst Symba, who posts as @Nebulabsxyz, said LINK is in a pronounced correction and sees a substantial probability that price revisits the rising trendline support zone between $12.70 and $13.00 before establishing a base.
- Symba added that if the trendline holds, LINK might rally back toward $14.00 to $14.50 and retest the recent peak near $15.50, and he called $12.70 the critical threshold for long-positioned traders.
Questions readers ask
How much did Chainlink ETFs take in on October 1?
The two funds recorded $2.62 million in net inflows, per SoSoValue data. Bitwise's CLNK attracted the entire daily inflow, while Grayscale's GLNK reported no net change.
What are the total net assets of the LINK ETFs?
Net assets stood at $244.34 million, or 2.27% of LINK's market capitalization. Inflows since launch reached $168.96 million, and the weekly figure was $8.30 million.
What Chainlink price levels matter now?
LINK traded at $14.451 on October 2, above $14 support and below $15 resistance. A break above $15 could open $16, while a failure could bring $13 and then $12.20 into focus.
