Grayscale and Bitwise accumulate 1.4M LINK as price slips
Chainlink (LINK)
Editor:
Eugene Serbin
ambcrypto.com reports that institutional demand for Chainlink strengthened as Grayscale and Bitwise expanded their holdings. Grayscale’s $GLNK ETF received 203,810 LINK worth $2.38 million from Coinbase Prime, bringing its 18-day total to 1.05 million LINK valued at $12.12 million. Bitwise also confirmed an accumulation trend by purchasing 163,664 LINK worth $1.91 million, raising its total holdings to 3.964 million LINK at an average price of $9.96.
The Chainlink strategic reserve added 91,100 LINK worth $1.06 million, increasing its 30-day accumulation to 511,000 LINK. This reserve growth brought total holdings to 5.86 million LINK worth nearly $67.24 million. ETF products attracted $4.27 million in investor capital during the latest session, with weekly inflows hitting $5.36 million.
These products now hold 2.1% of LINK’s supply and have recorded only two lifetime outflow days. Whale activity reinforced this trend, with the Whale versus Retail Delta registering a positive reading of 0.36. LINK stabilized around the $11.50 zone after retreating from a swing high near $13.70. The price remained above the significant $11 support level despite losing the ascending trendline that guided previous expansion.
How the market reacted
Whalio's own Binance spot order flow for LINK, measured when this story was written up on 12 September 2026. Not the outlet's figures.
Whalio’s Binance spot data shows LINK trading at $11.55 with a 1-hour buy ratio of 48.8% and a 4-hour buy ratio of 52.7%. The 24-hour buy ratio stands at 51.6%, indicating that buying pressure is stabilizing after a brief dip in short-term sentiment. Volume delta reflects this shift, showing -$8,879 over the last hour but +$103,089 over four hours and +$1,396,509 over 24 hours. The cumulative volume delta (CVD) for the 24-hour period closed at +$1,718,864, confirming net buying dominance. Net buying occurred for 17 of the last 24 hours, with spot volume reaching $41,948,387 across 523,609 trades. This data suggests that while immediate short-term selling existed, longer-term accumulation continued to absorb supply.
The latest daily buy ratio of 49.4% sits at the 56th percentile of the last 322 days, against a median of 48.8% - ordinary for this coin.
Was that an ordinary day?
The same Binance spot measurements for LINK, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 50.4%, with the latest day showing a +1.2 point increase relative to that average. Spot volume was 1.14x the weekly average, indicating heightened activity compared to typical days. Net buying occurred on 3 of the 7 days, with a total volume delta of +$5,569,539 over eight days. The price change over eight days was -0.7%, showing minimal decline despite the volume increase. This suggests that the current day’s activity is slightly more active than usual, with volume exceeding the weekly average by 14%. The consistent net positive delta over the week contrasts with the mixed short-term signals, highlighting sustained institutional interest.