New $25 Chainlink All Time High Over Grayscale Rumor

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Last Updated on 24 January 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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Chainlink, the biggest DeFi coin, is breaking record upon record nowadays, setting a new all time high of $25 this weekend. The latest buzz around the coin is that Grayscale will soon be offering it to clients. For context, Grayscale is a major investment fund that provides financial vehicles which enable institutions to acquire Bitcoin and altcoins in a regulatory compliant manner (which is approved by the SEC).

Will Chainlink soon see institutional investment or is it just a rumor?

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Grayscale

Until a year ago, a so-called Coinbase listing rumor was enough to get your small crypto noticed by the bigger investors, but the entry of Grayscale, PayPal, Square and many others in the cryptosphere changed all that.

By now, these massive Wall Street and Silicon Valley companies need to diversify as they realize very well that the absence of any technical stops can lead to an easy 20% drop of the value of their Bitcoin holding. As Satoshi Nakamoto’s coin is by now a known worldwide brand, it is time to introduce others to the market.

DeFi is all the rage as of late for classic media and although the Financial Times still claims that regulatory oversight will soon step in, the Wall Street media like Fortune and Forbes are seeing that differently.

This might be the reason that a rumor launched this week by an obvious Chainlink fan might pack some truth after all.

The person, tweeting under the moniker ChainlinkGod (quite obvious) stated that Grayscale would soon be expanding it’s offering to institutional customers by including the coin that all Link Marines support.

If that is true, then last year’s 600% rise for the coin looks like small potatoes indeed. The reaction of Chainlink was obvious in the past few days, where it outperformed all other coins in the CoinMarketCap top 10.

At the time of writing, Chainlink is trading at $24.54. For comparison, exactly one year ago, on 24 January 2020, before DeFi started booming, Chainlink traded at $2.