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Chainlink's LINK Surges 6% on Treasury Purchase, ETF Anticipation
Yahoo Financeยท 2025-09-18 18:27
Group 1 - Chainlink's native token (LINK) surged 6% over the past 24 hours, crossing $24.5, as crypto prices increased with altcoins outperforming [1] - The price increase is attributed to large-cap altcoins leading the market in anticipation of spot-based ETFs potentially being approved by the SEC [1] - Caliber (CWD), a public wealth management firm, purchased $6.5 million worth of LINK tokens as part of its digital asset strategy [2] Group 2 - The Chainlink Reserve acquired an additional 43,000 LINK tokens, valued at $1.05 million, as part of its initiative to buy tokens using revenue from protocol integrations and services [3] - Since August, the Chainlink Reserve has accumulated a total of 323,116 LINK tokens, worth $7.9 million [3] - Technical analysis indicates LINK is gaining momentum, with strong support at $22.82 and high-volume confirmation of 5.56 million units [4] Group 3 - Multiple resistance levels have been breached, including $24.16 and $24.42, indicating sustained purchasing pressure [4] - Ascending low formations throughout the recovery phase suggest consistent upward momentum for LINK [4]