The post ‘Real product market fit’ – Can Chainlink’s ETF moment finally unlock $20? appeared on BitcoinEthereumNews.com. Chainlink has officially joined the U.S. Spot ETF club, following Grayscale’s successful debut on the 3rd of December.  The product achieved $13 million in day-one trading volume, significantly lower than the Solana [SOL] and Ripple [XRP], which saw $56 million and $33 million during their respective launches.  However, the Grayscale spot Chainlink [LINK] ETF saw $42 million in inflows during the launch. Reacting to the performance, Bloomberg ETF analyst Eric Balchunas called it “another insta-hit.” “Also $41m in first day flows. Another insta-hit from the crypto world, only dud so far was Doge, but it’s still early.” Source: Bloomberg For his part, James Seyffart, another Bloomberg ETF analyst, said the debut volume was “strong” and “impressive.” He added,  “Chainlink showing that longer tail assets can find success in the ETF wrapper too.” The performance also meant broader market demand for LINK exposure, noted Peter Mintzberg, Grayscale CEO.  Impact on LINK markets Bitwise has also applied for a Spot LINK ETF and could receive the green light to trade soon. That said, LINK’s Open Interest (OI) surged from $194 million to nearly $240 million after the launch.  The surge indicated a surge in speculative interest for the token on the Futures market.  Source: Velo By extension, it also showed bullish sentiment following the debut. On the price charts, LINK rallied 8.6%, extending its weekly recovery to over 20% from around $12 to $15 before easing to $14.4 as of press time. It was still 47% down from the recent peak of $27.  The immediate overheads for bulls were $15 and $16, and clearing them could raise the odds for tagging $20. Especially if the ETF inflows extend.  Source: LINK/USDT, TradingView Assessing Chainlink’s growth Chainlink has grown over the years and has become the top decentralized oracle provider, offering numerous blockchain projects… The post ‘Real product market fit’ – Can Chainlink’s ETF moment finally unlock $20? appeared on BitcoinEthereumNews.com. Chainlink has officially joined the U.S. Spot ETF club, following Grayscale’s successful debut on the 3rd of December.  The product achieved $13 million in day-one trading volume, significantly lower than the Solana [SOL] and Ripple [XRP], which saw $56 million and $33 million during their respective launches.  However, the Grayscale spot Chainlink [LINK] ETF saw $42 million in inflows during the launch. Reacting to the performance, Bloomberg ETF analyst Eric Balchunas called it “another insta-hit.” “Also $41m in first day flows. Another insta-hit from the crypto world, only dud so far was Doge, but it’s still early.” Source: Bloomberg For his part, James Seyffart, another Bloomberg ETF analyst, said the debut volume was “strong” and “impressive.” He added,  “Chainlink showing that longer tail assets can find success in the ETF wrapper too.” The performance also meant broader market demand for LINK exposure, noted Peter Mintzberg, Grayscale CEO.  Impact on LINK markets Bitwise has also applied for a Spot LINK ETF and could receive the green light to trade soon. That said, LINK’s Open Interest (OI) surged from $194 million to nearly $240 million after the launch.  The surge indicated a surge in speculative interest for the token on the Futures market.  Source: Velo By extension, it also showed bullish sentiment following the debut. On the price charts, LINK rallied 8.6%, extending its weekly recovery to over 20% from around $12 to $15 before easing to $14.4 as of press time. It was still 47% down from the recent peak of $27.  The immediate overheads for bulls were $15 and $16, and clearing them could raise the odds for tagging $20. Especially if the ETF inflows extend.  Source: LINK/USDT, TradingView Assessing Chainlink’s growth Chainlink has grown over the years and has become the top decentralized oracle provider, offering numerous blockchain projects…

                                                                               Wormhole’s native token has had a tough time since launch, debuting at $1.66 before dropping significantly despite the general crypto market’s bull cycle.                     Wormhole, an interoperability protocol facilitating asset transfers between blockchains, announced updated tokenomics to its native Wormhole (W) token, including a token reserve and more yield for stakers. The changes could affect the protocol’s governance, as staked Wormhole tokens allocate voting power to delegates.According to a Wednesday announcement, three main changes are coming to the Wormhole token: a W reserve funded with protocol fees and revenue, a 4% base yield for staking with higher rewards for active ecosystem participants, and a change from bulk unlocks to biweekly unlocks.“The goal of Wormhole Contributors is to significantly expand the asset transfer and messaging volume that Wormhole facilitates over the next 1-2 years,” the protocol said. According to Wormhole, more tokens will be locked as adoption takes place and revenue filters back to the company.Read more