Chainlink
Chainlink Reserves and Fund Holdings Reach 22.7 Million LINK Despite Price Slump
Chainlink quarterly figures show over 22 million tokens held in company reserves and institutional funds, even as LINK slid to a daily low near $11.94.
Chainlink's third-quarter review indicates that 22.7 million LINK tokens are currently held in non-trading vehicles, representing approximately $271 million in value. The project's internal reserve expanded by more than 1.54 million LINK during the quarter, bringing its total to roughly 6.05 million tokens accumulated from service revenues. In addition, US exchange-traded products managed by Grayscale and Bitwise accounted for 16.65 million LINK, representing over $230 million in assets under management.
Combined, these locked allocations constitute roughly three percent of Chainlink's circulating supply, which ranges between 748.1 million and 766.8 million tokens. The value held across these vehicles exceeds the $240.7 million traded across the market over the preceding 24 hours.
Despite the accumulation reported in the project's unaudited review, the token traded between $11.93 and $11.96 on Thursday afternoon, reflecting a 24-hour drop of nearly six percent from a session high of $12.80.
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