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May 3, 2021 19:31 GMTCrypto News
Chainlink price reaching outer limit of 9-day returns for 2021.
Topside trendline looms over rally sustainability.
IOMAP data shows trivial resistance at current price level.
Chainlink price broke through the descending channel on April 30 after three days of being locked at the intersection of two crucial resistance zones. Demand has not climbed over the last three days, but the developing inside-day illustrates a stalemate between accumulation and distribution, setting the platform for a trend continuation.
Chainlink price sponsor Grayscale, delivers superior returns
The Grayscale Chainlink Trust announced they are up 41.34% since the end of February with $5.8 million assets under management (AUM) in Chainlink (LINK). The trust’s official inception was February 26, joining the lineup of other single asset investment options from Grayscale.
Grayscale adds Chainlink to its large-cap crypto fund, providing tailwind to LINK price forexcrunch.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forexcrunch.com Daily Mail and Mail on Sunday newspapers.
Chainlink Hits $30 as Grayscale Adds 115,570 LINK to Its Reserves
Chainlink prices climbed higher on Thursday, rising by as much as 5.10 percent on the prospects of higher institutional adoption.
The LINK/USD exchange rate reached its previous week’s high of $30 before correcting lower during the early London session. Its uptrend majorly came as a part of a broader bullish trend across the altcoin market. Meanwhile, LINK received an additional upward boost from New York-based Grayscale Investments’s overnight buying spree.
Grayscale Goes Shopping
Data fetched by ByBt.com shows that the crypto investment firm bought 115,570 LINK tokens for its Grayscale Chainlink Trust from March 17 until April 1. That includes a 65,570 LINK purchase on Thursday, which coincided with a price pump in the Chainlink market.
Grayscale Adds Five New Digital Asset Offerings
Grayscale has announced five new digital asset offerings, available only to accredited investors, outlined as follows:
Grayscale Basic Attention Token Trust (BAT): BAT serves as the native digital currency for Brave
Grayscale Chainlink Trust (LINK): Chainlink is a decentralized network aimed to link real-world data and public blockchains by connecting smart contracts to off-chain data for markets, events, and payments. LINK is used as a payment token within the Chainlink ecosystem.
Grayscale Decentraland Trust (MANA): MANA is the token that serves as the native digital currency in Decentraland, a peer-to-peer virtual reality platform.