Grayscale's LINK ETF is coming, but Chainlink itself has collapsed first?

Question

[Coin World] Grayscale is set to make a big move this week - once the SEC gives the green light, their Chainlink Spot ETF will be launched. In theory, such an institutional product should inject new funds into LINK, but reality is a bit disappointing.

The on-chain data of Chainlink doesn't look very good. The total security value has dropped to $80.5 billion, and LINK's performance in December can only be described as disastrous - the price plummeted by 10%. Even more severe is that some analysts have set a target price of $8, and if it really falls to that, it would be a halving.

However, that being said, the ETF card still carries some weight. Once institutional funds enter the market through compliant channels, it can at least put a brake on the current downward trend. After all, the way Wall Street's money and retail investors' money play is completely different. It all depends on whether the SEC can step up this time and allow Grayscale to catch this wave of market movement.

LINK-10.78%

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SelfStaking · Accepted Answer

The ETF won&#39;t save it, LINK is really in a bit of trouble this time, I believe it will be 8 dollars.

FallingLeaf · Answer

It&#39;s the old trick of saving the market with ETFs again, but LINK&#39;s situation is really a bit precarious... You can&#39;t joke about a 50% Slump.

AlwaysQuestioning · Answer

8 bucks? Ha, these analysts really dare to speak, a direct 50% Slump is quite ruthless. But speaking of which, if the ETF launch can really save LINK, it would be interesting. The feeling when Wall Street comes in is indeed different. I&#39;m just afraid the SEC will be dragging their feet again, and people will be left hanging.

ForkTrooper · Answer

This wave of LINK is indeed a bit awkward, the ETF hasn&#39;t landed and the coin price has already plummeted... If it really gets dumped at 8 dollars, I&#39;ll be eating dirt.

AirdropHunter · Answer

It&#39;s the same old trap again, institutions coming in to save the market... LINK has fallen a bit badly this past six months, and just because an ETF is coming doesn&#39;t necessarily mean it can pump it up.