Key notes
- Analysts have highlighted a major technical breakout for LINK price after a strong consolidation phase.
- Grayscale’s GLNK ETF debuted on the New York Stock Exchange, seeing 1.17 million shares traded and $14 million in volume on its first day.
- LINK saw a 24% surge in futures open interest, with analysts forecasting a $20 target ahead.
LINK
LINK
$14.51
24h volatility:
7.8%
Market capitalization:
$10.10 billion
Flight. 24h:
$1.28 billion
the native cryptocurrency of the Chainlink blockchain, shows major strength with a 20% surge amid the broader crypto market rally on December 3. This rally comes as asset manager Grayscale’s first-ever Chainlink ETF goes live. The overall market sentiment has turned bullish around this altcoin amid recent developments.
Rising LINK Price Leads Crypto Market Rally
After facing heavy selling through November, LINK price has seen a major recovery with gains of 20% in the last 24 hours and is currently trading at $14.38. Additionally, daily trading volumes for LINK jumped 84% to $1.12 billion.
According to CoinGlass data, LINK futures open interest also jumped 24% to over $630 million, highlighting strong bullish sentiment.
Crypto market analyst World of Charts reported that Chainlink (LINK) held a critical support zone and is now coming out of a consolidation phase. The analyst said that the technical structure points to a potential move towards the $20 level in the coming days.
$Link #Link Important area held, and now breaking the long consolidation, expecting a move towards $20 in the coming days, awaiting a successful retest pic.twitter.com/qT5HHfrj9n
– World of Charts (@WorldOfCharts1) December 3, 2025
LINK price is already trading at a 50% discount from its January 2025 high of $30. However, throughout this year, Chainlink as a blockchain has become fundamentally stronger and has seen strong whale accumulation as of late. Additionally, demand could further increase with the first ETF going live in the United States.
Grayscale Chainlink ETF Launches on the NYSE
On December 2, the Grayscale Chainlink ETF (GLNK) went live on the New York Stock Exchange (NYSE), becoming the first U.S. spot product offering direct access to LINK.
The company’s decision to convert its existing Chainlink Trust into the publicly traded GLNK ETF marks a major shift in institutional access to the asset. Additionally, the GLNK ETF saw 1.17 million shares traded on its opening day, nearly 28 times its average daily volume as a private trust.
GLNK closed its first session with a trading volume of around $14 million. Although modest in absolute terms, this figure is significant given that Coinbase’s daily LINK volume typically ranges between $30 million and $40 million. This shows that the ETF captured almost half of the trading activity on the first day it went live.
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Bhushan is passionate about FinTech and has a good nose for understanding financial markets. His interest in economics and finance draws his attention to the new emerging markets of Blockchain technology and cryptocurrencies. He is continually learning and remains motivated by sharing his acquired knowledge. In his free time, he reads thriller novels and sometimes explores his culinary skills.
