Chainlink's two U.S.-listed ETFs booked a third straight day of net inflows on October 1, while LINK held above $14 support as it tests $15 resistance. Open interest edged up to $771.91 million even as derivatives trading volume fell more than 21%.
Chainlink rose 0.95% to $14.44 over 24 hours, tracking a broader rally led by Bitcoin. The move extended a run that has taken LINK up more than 30% over the past month following the CCIP 2.0 launch, with the token now eyeing the $20 level.
Chainlink ETFs extend inflow streak to three days
The two Chainlink exchange-traded funds recorded $2.62 million in net inflows on October 1, according to SoSoValue data. Bitwise's CLNK took in the entire daily inflow, while Grayscale's GLNK posted no net change.
Combined inflows across both funds have reached $168.96 million, with total net assets standing at $244.34 million — equal to 2.27% of LINK's market capitalization. The weekly tally showed $8.30 million in net inflows, and daily trading across both funds totaled $14.99 million, with Grayscale accounting for $14.56 million of that volume. Grayscale held $175.69 million in net assets against Bitwise's $68.64 million.
Is Chainlink preparing a breakout above $15?
LINK traded at $14.451 on October 2, rising 0.56% in the latest four-hour candle after retreating from its late-September peak. The token has stayed above $14 support while trading in a narrow range below $15 resistance.
The four-hour relative strength index stood at 52.27, pointing to a modest positive bias with momentum still close to neutral. The MACD line registered 0.048 against a signal line of 0.083, and its histogram remained negative at -0.035 — a sign that bearish momentum persists.
A sustained move above $15 could open the way toward $16 resistance, while holding $14 would preserve the current consolidation structure. Failure to defend $14, however, could bring the prior trading area near $13 back into focus, with a deeper decline testing the September support zone around $12.20.
Open interest holds near $772 million as volume falls
Chainlink's derivatives market saw trading volume drop 21.53%, producing turnover of $589.69 million. Open interest still edged up 0.08% to $771.91 million, pointing to lower trading activity but largely flat derivatives exposure.
Bitcoin hovered above $86,000 during the period, while Ethereum traded above $2,700 and XRP rose 3% to $1.53, adding to a broader market advance that pushed total crypto market capitalization up 2.37% to $2.93 trillion.
Source: CoinGape
Trading involves risk.
Risk Disclaimer
