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Chainlink (LINK) continued to feel a negative impact of the market in November. The selling pressure pushed its price in 50% from the peak last quarter. However, Grayscale and many analysts still maintain a bullish outlook.
The three-month decline also pushed LINK to the most important support level in the last two years. This is an area where traders can find new opportunities.
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How many LINKs does Grayscale hold?
Grayscale – one of the largest investment firms in the digital asset sector – recently published a very optimistic research report on the LINK token. The report highlights Chainlink’s role as an essential infrastructure layer for decentralized finance (DeFi) and asset tokenization.
Description of the report, entitled “The LINK between Worlds‘, “Chainlink” as one of the intermediate components. It allows on-chain applications to securely use off-chain data. It also allows them to interact across chains and meet compliance requirements at the enterprise level.
Zach Bandel, head of research at Grayscale, noted that token assets remain very small today. It represents about one basis point (0.01%) of the value of the global stock and bond market. As a result, the growth potential is huge.
“Tokenized assets today are very small: only ~1 basis point (0.01%) of the global equity and bond market capitalization,” said Zach Bandel. “They will grow exponentially over the next decade. In our opinion, there is no project more central to making tokenization a reality than Chainlink.” .
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The report was published shortly after Grayscale filed a request with the US Securities and Exchange Commission (SEC) to… LINK spot exchange-traded fund (ETF). That will be listed under the symbol GLNK. According to the Chainlink community communicator: Zach RainesThe order was recently modified and is expected to launch on December 2, 2025.
At the same time, Bitwise’s Chainlink ETF has been listed On the platform of the Depository and Clearing Corporation (DTCC) under the symbol CLNK.
Additionally, Grayscale Investments’ LINK token funds exceeded 1.3 million tokens in November 2025, according to CoinGlass data. Their holdings have more than quadrupled in the last two years.
This trend reflects Grayscale’s growing confidence in Chainlink’s long-term potential, especially as the company continues to grow. In accumulation During periods of low prices.
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Chainlink (LINK) faces a recovery opportunity as it enters its best-buy zone in two years
The offer of LINK on the exchange index is another leading indicator, hitting a new low in November. This ratio measures trade reserves as a proportion of total supply.
appears Data CryptoQuant reported that the supply of LINK on exchanges dropped from 170 million tokens in October to 131 million in November. As a result, the exchange supply ratio fell to an all-time low of 0.13.
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This signal indicates that there are fewer LINK tokens available for trading. This reduces selling pressure, indicating that investors are withdrawing tokens from exchanges for long-term holding. These shortages are often preceded by a spike in prices when demand eventually exceeds supply.
On the technical side, LINK remains in a large bullish structure and has reached its strongest support level in two years.
CryptoPulse analyst explained what you do “LINK is moving in a large uptrend channel, and the price is now at the bottom of this structure – a point where it has bounced many times before.”
The article summarizes that with the support of Grayscale, an upcoming ETF, historically low exchange volume, and a strong technical position, Chainlink coin is now… Strong recovery balcony.
