In November 2025, Grayscale Investments achieved a historic milestone by increasing its Chainlink (LINK) holdings to 1.3 million tokens despite the bearish market conditions that pushed LINK’s price down by 50% over the past quarter. This significant accumulation underscores Grayscale’s confidence in Chainlink’s pivotal role in decentralized finance (DeFi) and asset tokenization.
Strengthening Confidence in Chainlink’s Vision
Grayscale firmly believes Chainlink serves as a foundational layer for DeFi, enabling secure access to off-chain data and seamless cross-blockchain interaction. As highlighted in Grayscale’s latest research report, titled ‘The LINK Between Worlds’, LINK is central to delivering enterprise-level compliance and supporting the adoption of tokenized assets.
Head of Research at Grayscale, Zach Pandl, stated, “Tokenized assets are tiny today, representing just ~1 basis point (0.01%) of the global equity and bond market capitalization. Over the next decade, this sector will expand exponentially, and Chainlink is positioned at the forefront of this transformation.”
Growing Momentum for LINK ETFs
Grayscale recently filed an application with the U.S. Securities and Exchange Commission (SEC) to launch a spot LINK Exchange-Traded Fund (ETF) under the ticker GLNK. This move follows the successful listing of Bitwise’s Chainlink ETF on the Depository Trust and Clearing Corporation (DTCC) under the ticker CLNK, with Grayscale’s ETF expected to launch on December 2, 2025.
These ETFs further validate the investment community’s trust in Chainlink’s potential and position it as a strong contender in future financial markets.
Exchange Supply Ratio Hits Record Low
Another critical indicator of Chainlink’s potential recovery is its Exchange Supply Ratio, which dropped to an all-time low of 0.13% in November. According to data from CryptoQuant, LINK reserves on exchanges decreased from 170 million tokens in October to 131 million in November, signaling decreased selling pressure and heightened accumulation among long-term investors.
This metric often precedes significant price rallies, as reduced token availability tends to drive demand upward when market sentiment improves.
Technical Analysts Expect a Strong Price Recovery
From a technical perspective, LINK remains in a bullish ascending channel, with its price touching the bottom of this trend. Multiple rebounds from this level in the past suggest a potential recovery zone backed by positive on-chain metrics and institutional support.
CryptoPulse, a respected analyst, noted, “LINK has been grinding inside a major ascending channel, and the price is now at a historically strong support level — a position that has triggered rebounds several times before.”
Support Chainlink’s Success with DeFi Products
Investing in crypto projects is complex, but products enabling users to educate themselves and manage their assets, like the Ledger Nano X Hardware Wallet, can enhance security and peace of mind. Pairing secure tools with Chainlink’s innovations may be an excellent strategy for those diving into DeFi.
The Future of Chainlink
With Grayscale’s unwavering support, institutional interest through ETFs, reduced exchange supply, and solid technical indicators, Chainlink is poised for a strong recovery. Investors may want to watch this space as LINK positions itself as a cornerstone of the blockchain-driven financial ecosystem.
