Chainlink social buzz surges – But LINK’s price tells another story

Did the latest Chainlink partnerships boost LINK bullish sentiment?

No, this week has been bearish for LINK on the price charts as it lost a key swing low and support level from August.

What do the on-chain metrics show for LINK?

They reflected falling exchange reserves and a shift from bearish to neutral spot taker CVD- but neither had yet halted the LINK downtrend.

Chainlink [LINK] was one of the tokens driving social media engagement. A Santiment Insights post captured how Chainlink’s role as a multi-chain oracle network and its multiple partnerships with major financial institutions were a talking point.

A partnership between Chainlink and Dinari, a leading provider of tokenized U.S. equities, was announced on the 5th of November.

The aim was to make the S&P Digital Markets 50 Index one of the first to operate verifiably onchain. The index will track 35 U.S.-listed companies driving blockchain adoption and 15 major digital assets.

Another collaboration between Chainlink and Tradeweb, a global operator of marketplaces for rates, credits, equities, and money markets, to publish the Tradeweb FTSE U.S. Treasury Benchmark Closing Prices on-chain via DataLink, was announced on the 4th of November.

Despite the stream of affiliations with notable TradFi institutions, demand for Chainlink’s native token LINK remained weak. Why was this?