Crypto News: Sergey Nazarov Discusses Chainlink $LINK and Market Prospects in Podcast

Sergey Nazarov shares insights on Chainlink, including ETF news, investor actions, and market trends in a new podcast session.

Chainlink (LINK) has gained attention as investors closely watch its price movements. Chainlink had a peak near $30 earlier this year but dropped 55% from its high. Despite the decline, experts suggest potential drivers could influence LINK in the near term.

Grayscale Support and Spot ETF Potential

Grayscale recently released a report calling Chainlink the key link between crypto and traditional finance. The report described Chainlink as modular middleware that allows applications to access off-chain data and interact across blockchains.

The report also highlighted LINK as the largest asset in the Utilities and Services Crypto Sector. This gives investors exposure to the broader crypto economy. Analysts suggest that a U.S. spot ETF for $LINK could further increase institutional interest.

Exchange Reserves and Market Movements

Recent data shows LINK holdings on centralized exchanges dropped to 128.4 million tokens, the lowest since summer 2022. Many investors are moving funds to self-custody, potentially reducing selling pressure.

However, large investors have redistributed over 31 million tokens recently. The total holdings of these participants now represent 22% of circulating supply. Such movements can influence short-term price trends and may affect smaller traders.

Related Reading: Chainlink Powers Perpl Markets with Full Oracle Integration

Chainlink Price Trends Ahead of ETF Launch

LINK has recently pushed higher, breaking above a diagonal resistance line. Analysts suggest this could signal a short-term recovery toward $14.20.

Technical indicators show LINK trading inside an ascending parallel channel. This pattern may contain corrective movements and short-term volatility. The MACD recently crossed bearishly, a move that previously led to an 11% drop.

With the upcoming ETF, Chainlink may see increased institutional inflows from pension funds, asset managers, and corporate treasuries.

Chainlink continues to support tokenization pilots with major banks, reinforcing its market relevance. Sergey Nazarov’s insights in the podcast underline the uncertainty and potential growth opportunities for LINK in the current market cycle.