Chainlink ETF Launch Expected to Impact LINK’s Performance

Grayscale is gearing up to introduce the inaugural Chainlink (LINK) ETF this week following approval from the SEC. This move has the potential to amplify institutional interest and investment inflows into Chainlink. Concurrently, Chainlink is observing a decrease in on-chain activity, evidenced by its Total Value Secured dipping to $80.5 billion, coupled with a historical trend of LINK's price experiencing bearish trends in December. Despite a recent 10% price decline and forecasts from analysts predicting a further drop to $8, the introduction of the ETF could serve as a buffer against additional price decreases.