Recently, the market is bustling - Chainlink (\u003ct-108/\u003e) has welcomed the first ETF application from the United States, and the \u003ct-110/\u003e token surged 10% within 24 hours💥. Institutional funds and market sentiment are driving a new wave of attention to altcoins, exciting traders.
Bitwise bets on Chainlink: The first LINK ETF application in the US🚀
Bitwise Asset Management has just submitted the first Chainlink ETF application in the US, aiming to allow traditional investors to access LINK in a compliant way. The ETF will use Coinbase Custody as the custodian, supporting the physical creation and redemption of tokens, allowing investors to trade stocks directly with LINK.
Although details such as the exchange, stock code, and management fees of the ETF have not yet been announced, this move marks the first attempt by the US market to track the LINK native token through an ETF. The S-1 form submitted to the SEC shows the fund structure and objectives, but an additional 19b-4 form needs to be submitted to enter the formal approval stage, which is expected to take several months to complete⌛.
Once the news broke, the market reacted positively: Chainlink's price rose 5% on the same day, increasing from $22.94 to $24.29 in just 24 hours📈. Analysts believe that if the ETF is approved, a large influx of institutional funds may enter the LINK market, increasing liquidity and potentially further driving up prices.
As of the time of writing, LINK's trading price is $24.10, slightly down in 24 hours.
In addition, Bitwise has recently partnered with Japan's SBI Holdings to explore applications such as the tokenization of real assets and on-chain stablecoin reserve verification, bringing more institutional relevance to LINK.
IP tokens rebound quickly: TVL and liquidity drive the rise💎
At the same time, IP tokens have also attracted attention. In the past 24 hours, the price of IP has risen more than 10%, and the total locked value (TVL) has increased by 12%, breaking through the $25.5 million mark💰.
High TVL means that investors are not only buying and selling tokens but also participating in the ecosystem at a deeper level, providing support for sustained increases. The liquidity chart shows concentrated liquidity areas above the price, which may attract further upward price movement. If buyers continue to push, IP is expected to test higher resistance areas.
Of course, the market won't keep rising straight up⚠️. The areas of concentrated liquidity may also become points for profit-taking, and if small investors follow suit and withdraw, volatility may be amplified. In the short term, price movements of IP still need to pay attention to fund flows and changes in trading volume.
Market observation: Institutions, ETFs, and the altcoin boom📊
These two pieces of news convey the same signal: Institutional funds and technological innovation are driving a rebound in the altcoin market.
The application for the LINK ETF could open the door for institutional investors such as pension funds and hedge funds, bringing in compliant inflows of capital.
The increase in TVL and liquidity of IP shows that investor confidence is strengthening, and there is considerable potential for short-term price increases.
In combination, whether it is the potential benefits of the ETF or the funding commitments of DeFi tokens, the altcoin market is welcoming a highly monitored and volatile trading window. For traders, this is a great opportunity to observe the flow of funds, short-term fluctuations, and institutional movements💡.
Summary: Short-term opportunities + potential volatility💥
Chainlink: The ETF application brings institutional attention, and the short-term price has already reflected an increase. The key lies in the SEC approval process and market sentiment.
IP tokens: Prices and TVL have risen in sync, and liquidity clusters may drive a short-term breakout, but the pressure to cash out cannot be ignored.
In simple terms, both LINK and IP are sending signals to the market: Institutional funds are entering, and both technical indicators and market sentiment are leaning bullish📈. Short-term opportunities and volatility coexist, and traders need to be mindful of risks while seizing potential upward trends.
The heat of the market is rising, and the new round of movements in altcoins is worth continuous attention🔥.
✍️Remember to DYOR, manage risks well, and wish everyone smooth sailing in the crypto world!🌊
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