Chainlink's LINK dropped to its lowest in nearly two weeks on surging volume as institutional selling intensified, while announcing a major price feed partnership with Ondo Finance for tokenized assets.
Chainlink's LINK token fell 8% to $16.92 Thursday, breaching key $17 support and marking its weakest price in nearly two weeks. Trading volume spiked 98% to 3.94 million tokens during the breakdown, with institutional selling dominating. Attempts to reclaim $17 failed amid reduced activity, suggesting absent institutional buying despite oversold conditions. The Chainlink Reserve purchased 64,445 LINK, its largest nominal buy since August, bringing holdings to about $11 million. Separately, Ondo Finance selected Chainlink to provide price feeds for over 100 tokenized stocks and ETFs, including corporate action data, as part of a broader partnership involving Cross-Chain Interoperability Protocol (CCIP) and the Ondo Global Market Alliance.