Chainlink ETFs Reach 1.16% of Circulating Supply Amid Growing Institutional Demand

Chainlink ETFs have accumulated holdings equivalent to 1.16% of the cryptocurrency's total circulating supply, marking a significant milestone in the market. This accumulation represents net inflows of $630,000 and is seen as a positive trend among institutional investors.

The shift towards long-term custody positions among institutional investors is attributed to the growing demand for oracle services in the decentralized finance (DeFi) sector. Chainlink operates as a decentralized oracle network that provides external data to blockchain smart contracts, making it an essential component of DeFi protocols.