Impact on LINK markets Bitwise has also applied f

Impact on LINK markets

Bitwise has also applied for a Spot LINK ETF and could receive the green light to trade soon. That said, LINK’s Open Interest (OI) surged from $194 million to nearly $240 million after the launch. 

The surge indicated a surge in speculative interest for the token on the Futures market

By extension, it also showed bullish sentiment following the debut.

On the price charts, LINK rallied 8.6%, extending its weekly recovery to over 20% from around $12 to $15 before easing to $14.4 as of press time. It was still 47% down from the recent peak of $27. 

The immediate overheads for bulls were $15 and $16, and clearing them could raise the odds for tagging $20. Especially if the ETF inflows extend.