Chainlink, the oracle platform that’s basically the middleman of blockchain (because why trust one system when you can trust a middleman who trusts another system?), has been trying to bridge traditional finance and DeFi like it’s a dating app for spreadsheets and smart contracts. Now, ETFs are coming to Wall Street. Will this save LINK from its downward spiral? Probably not. Probably.
Will this positive news save the declining on-chain activity and price action that seem to be taking a downward spiral? Well, if you believe in magic, maybe. If you believe in the SEC approving things without reading the fine print, definitely.
Chainlink ETF to launch this week
Nate Geraci, the crypto Twitter guru who probably eats his own words for breakfast, dropped a post saying Grayscale updated its LINK Trust S-1. Why? Because nothing says “trust us” like converting a private fund into an ETF and calling it “institutional-grade” while the SEC nods like a sleep-deprived parent.
The firm will be aiming to convert this private fund into an ETF, which will be debuting this week. Because nothing says “confidence” like launching an ETF in the same week the price of LINK looks like a rollercoaster that’s been told to leave the park.
The US Securities and Exchange Commission (SEC), that paragon of transparency and speed, gave a green light. Social buzz? Sure. Liquidity? Maybe. Capital inflow? Good luck convincing institutions to send money when the market is currently a dumpster fire dressed as a stock chart.
The Chainlink ETF exposes traditional investors to the oracle platform, which means more demand. However, this was happening against the backdrop of a weak crypto in terms of activity and price action. Because nothing says “demand” like a 10% crash and a TVS drop that makes you question every life choice you’ve ever made.
Data says December could be red!
Total Value Secured (TVS) fell from $103.21 billion to $80.5 billion in three months. Because who needs stability when you can have a financial thriller where the villain is the same guy who invented the word “bear market”?
These deposits accounted for borrowed and smart contracts by all its oracles, per Chainlink Metrics. Because nothing says “trust” like letting a bunch of oracles tell you what the weather will be like in 2026.
The market consumed this declining network activity, but historical data suggested that LINK was more likely to have another red month. Using the data since its debut in 2017, LINK has more than 60% of closing in red in December. Only three instances have been green in its LINK’s existence. Because crypto, like Christmas, is a time of year where hope is just a marketing ploy.
Again, every time November had closed red, the next month also had a similar outcome, except for Chainlink’s first year. Because nothing says “beginner’s luck” like being born into a bear market.
Worsening the situation was the fact that LINK had been in a consistent decline since September. Because nothing says “recovery” like watching your portfolio melt down while the stock market laughs at you from across the room.
Chainlink crashes 10%: Is more coming?
The hourly charts showed an extension of LINK’s fragility. This followed a 10% crash when the broader market was in a fall after massive liquidations. Price broke below an ascending trendline prior to this crash. Because nothing says “bullish” like breaking through support lines like they’re made of tissue paper.
On the 12-hour chart, Ali Charts noted that Chainlink could be retesting the breakdown from the rising channel. The trend channel has been in play since July 2024. Because nothing says “long-term strategy” like a channel that’s been broken so many times it needs a support group.
The analyst backed this continued price crash for December, as he predicted LINK could reach $8. Because nothing says “optimism” like a target price that’s basically the cost of a coffee in 2008.
However, the new social buzz around the launch of Chainlink ETF by Grayscale this week could change this outlook. Because nothing says “market magic” like a tweetstorm and a press release.
The capital inflow and liquidity from ETF hype could mitigate price decline, which is already 6% on the first day of the month. Because nothing says “stability” like a 6% drop and a prayer.
Final Thoughts
- GrayScale aims to convert its LINK trust into an ETF amid this week’s debut. Because nothing says “institutional confidence” like a trust fund that’s been waiting for an exit strategy since 2020.
- Chainlink was more likely to close in red for December unless the ETF hype mitigated this risk. Because nothing says “risk mitigation” like betting on a hashtag and a LinkedIn post.
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2025-12-01 17:28