Surging Chainlink and High Premium on Grayscale Chainlink Trust
Date: 2023-11-09 Author: Dima Zakharov Categories: CRYPTO PAYMENTS, IN WORLD
Grayscale Chainlink Trust Premium Reaches Record 223.86%
In recent days, Grayscale Chainlink Trust (GLNK) has garnered investor attention, reaching an unprecedented premium of 223.86% above the Net Asset Value (NAV). This significant deviation is attributed to a sharp surge in demand from institutional investors. For them, GLNK represents a regulated product that can be incorporated into their investment portfolios. However, it is worth noting that this premium increase is also linked to the relatively modest assets under management (AUM) in the trust, amounting to just $4.4 million.
Chainlink (LINK) Continues Its Impressive Growth
According to CoinGecko data, the cryptocurrency Chainlink (LINK) has demonstrated remarkable price appreciation. Over the last 30 days, LINK's price has nearly doubled, with an 8.9% increase in the past 24 hours. This asset has also claimed the top spot among the 30 leaders in terms of growth dynamics over the last seven days, with a growth rate of 30.4%.
CoinGecko analysts had previously noted Chainlink's proactive growth in their October report. Alongside the rise in the LINK cryptocurrency, the value of Grayscale Chainlink Trust (GLNK) has also surged, underscoring growing investor interest in this asset.
This substantial growth in assets reflects a lively interest in the cryptocurrency market and its long-term sustainability. Investors, both institutional and retail, continue to be drawn to digital assets, assessing their potential within the modern financial ecosystem. Anomalies like the record GLNK premium serve as a reminder of market dynamics and volatility that can provide new investment opportunities and returns.
