Crypto CasinosNewsGrayscale's Chainlink Trust: Gain Exposure to LINK with Impressive Performance and Analyst Predictions
Grayscale's Chainlink Trust (GLINK) has gained significant attention from institutional investors, as it is currently trading at a 223% premium. This indicates a strong interest in the digital asset investment product.
The trust provides institutions with a unique opportunity to gain exposure to Chainlink (LINK), the native asset of a decentralized oracle provider, without directly investing in the crypto asset.
GLINK is currently priced at $44.11 per share, offering exposure to approximately 0.93 LINK. At present, this amount is valued at $13.62. Over the past month, Grayscale's product has experienced a remarkable growth of around 120%.
While GLINK has seen substantial gains, LINK itself has also outperformed the majority of the crypto market. As the 12th-ranked digital asset by market cap, LINK is currently trading at $14.95. In the past 24 hours, it has increased by nearly 13%, and over the past week and month, it has surged by more than 28% and 105% respectively.
Crypto analyst The Flow Horse believes that LINK's upward trend is just beginning. Despite concerns about buying LINK at its current price, The Flow Horse suggests that the potential gains in the future will make the current price seem insignificant.
On the other hand, pseudonymous analyst Rekt Capital predicts that LINK may dip to around $11 to retest its previous resistance line. According to Rekt Capital, a retest of the macro downtrend as support may be necessary to confirm further upward movement.
Grayscale's Chainlink Trust has become a popular investment option for institutional investors, with its significant premium indicating strong demand. While LINK has shown impressive performance, analysts have differing opinions on its future trajectory. Investors should carefully consider their options and conduct thorough research before making any investment decisions.
