Chainlink
Chainlink Token Declines Despite Ongoing Buybacks from Network Revenue
The Chainlink Reserve continues to purchase LINK using protocol revenue, but the token has dropped over the past week amid broader trading volumes.
The Chainlink Reserve continues to acquire LINK using revenue generated from on-chain activity and enterprise clients, yet the token has experienced downward price momentum. On September 28, 2026, LINK closed at $15.44 before dropping to an intraday low of $11.81 on October 15. By mid-October, it was trading around $12.24, marking a 5.2% weekly decline and a 10.2% drop over two weeks, though remaining up 13.4% over 30 days.
Introduced in 2025, the Reserve relies on a payment abstraction mechanism that allows corporate users to pay service fees in stablecoins, which are subsequently converted to LINK on decentralized exchanges. Chainlink has stated that it plans to lock purchased tokens in the Reserve for several years without taking withdrawals.
Despite these steady purchases, the buying volume remains small relative to overall secondary market flows. LINK recorded roughly $260 million in 24-hour trading volume in mid-October. Additionally, Chainlink's public dashboard failed to load 30-day purchase figures at the time, preventing precise verification of recent buyback totals.
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