Chainlink’s Reserve accumulated 431,900 LINK worth $5.41 million over the past 30 days, bringing its total holdings to 6.29 million LINK. LINK’s 27% rise in September may be driven more by supply-squeeze speculation than strong institutional demand. Spot LINK ETFs recorded $397,000 in net outflows on October 16, only their third net-outflow day. For LINK to reclaim its all-time high of $52.70, demand must grow fast enough to absorb new supply and support a market cap of approximately $40 billion at current circulating supply.
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