LINK(Chainlink)24-hour fall 3.61%

Gate News Bot message, September 23, according to CoinMarketCap data, as of the time of writing, LINK(Chainlink) is currently priced at $21.55, falling 3.61% in the last 24 hours, with a high of $24.85 and a low of $20.84, and a 24-hour volume of $1.361 billion. The current market capitalization is approximately $14.613 billion, a decrease of $547 million compared to yesterday.

Chainlink is a pillar of blockchain, providing infrastructure for cross-chain communication, automated compliance, high-frequency market data access, and smart contract API connections. It has been adopted by financial institutions such as Swift, JPMorgan, and Mastercard, supporting hundreds of billions of dollars in on-chain transactions.

Important recent news about LINK:

1️⃣ Chainlink increases LINK reserves Chainlink announced its LINK reserve update on September 18, adding 43,067.7 LINK, bringing the total reserve to 323,116.4 LINK. This move demonstrates Chainlink's confidence in its native token and may positively impact LINK's long-term value.

2️⃣ The US SEC plans to introduce universal listing standards for crypto ETPs The U.S. Securities and Exchange Commission (SEC) is advancing a universal listing standard for crypto spot ETPs. If the new regulations are implemented, various crypto assets such as Chainlink are expected to quickly launch ETP products, potentially getting approved in as little as 75 days. This move could significantly enhance LINK's market liquidity and investment accessibility, potentially attracting more institutional investors.

3️⃣ Cryptocurrency Ecosystem Security Incident On September 23, the UXLINK project allegedly suffered a hacking attack, resulting in a loss of approximately $11.3 million. Although this incident is not directly related to Chainlink, it may raise concerns in the market regarding the security of decentralized finance (DeFi), indirectly affecting the market performance of Chainlink and its token LINK as a DeFi infrastructure provider.

From a technical perspective, the LINK price has experienced a pullback in the past 24 hours, possibly influenced by the overall sentiment of the cryptocurrency market. However, Chainlink's ongoing strategy to enhance its token reserves, along with the potential issuance of ETP products, may provide support for LINK's long-term value.

This message is not intended as investment advice; investors should be aware of market volatility risks.