Chainlink is entering an explosive phase as exchange supply hits a multi-year low. The Chainlink Reserve initiative further strengthens its role as the “backbone” of the tokenized financial system.

Meanwhile, LINK must break through and hold the critical resistance range of $24.5 – $24.85 to ignite a powerful bullish wave.

Chainlink’s Supply Shock Happening

Over the past week, the Chainlink (LINK) network has recorded several significant developments, reflecting the rapid expansion of this Oracle ecosystem. Multiple services and blockchains, such as Arbitrum, Base, Ethereum, and Polygon, have integrated Chainlink standards.

Not stopping there, Bitwise has also filed an S-1 with the SEC for a Chainlink ETF, giving regulated access to LINK through a Delaware trust. The ETF tracks LINK’s price via the CME CF Chainlink–Dollar Reference Rate, with Coinbase Custody safeguarding the reserves.

Chainlink also partnered with the US Department of Commerce to bring on-chain ma