Grayscale and Bitwise Buy 1.4 Million LINK Amid Price Dip

Big players are betting on Chainlink. Grayscale and Bitwise recently moved to acquire 1.4 million LINK tokens. This activity shows that institutional interest remains steady despite the current market conditions.

Even with this significant buying activity, the price of LINK has struggled to gain momentum. The token is currently hovering near the 11 dollar mark. This level is a key area for traders because it has acted as a support zone in recent weeks.

Analysts are watching to see if this institutional support will provide a floor for the price. If the token can hold steady above its current support, it might set the stage for a recovery. Traders should monitor the 11 dollar level closely to see if buyers defend this position or if more volatility is ahead.