Grayscale calls Chainlink the ‘crictical connective tissue’ of tokenized finance

Chainlink's price has dropped significantly, hitting a crucial support level at $12, marking a 55% decline from its peak this year and continuing a four-week downward trend. This decline coincides with a decrease in exchange supply, raising concerns among investors ahead of a potential ETF launch.

Bitcoin's price has fallen into a fragile state, trading in the mid-$80,000s after slipping below $90,000, raising concerns among analysts about the potential for a significant rally in the near future. Prominent crypto analyst Tony Severino has highlighted a bearish crossover in the 6-week LMACD momentum indicator, suggesting that the cryptocurrency is unlikely to recover anytime soon.

XRP's price has fallen below $2, with analysts indicating that it may be entering the final stages of a corrective structure, potentially dropping to $1.81 before a bullish reversal occurs. Technical analysis suggests that the current price movements align with an Elliott Wave formation, indicating further downside is likely.

Grayscale has released a report highlighting Chainlink as 'essential infrastructure' for tokenized finance, coinciding with its application to convert the Chainlink Trust into an exchange-traded fund (ETF) on NYSE Arca.

XRP has entered a significant growth phase with the launch of Spot XRP ETFs in the United States, generating heightened interest among institutional investors. Market commentator Chad Steingraber has projected that if ETF issuers adopt aggressive accumulation strategies similar to those seen with Bitcoin ETFs, XRP's available supply could diminish rapidly due to increased demand.

The New York Stock Exchange (NYSE) has approved the listing of Grayscale's XRP and Dogecoin exchange-traded funds (ETFs), with trading set to commence on Monday. This development is anticipated to enhance mainstream adoption of cryptocurrencies and may influence future regulatory frameworks.

Grayscale is set to launch its DOGE and XRP exchange-traded funds (ETFs) on the New York Stock Exchange (NYSE) on Monday. This move follows the recent launch of Bitwise's XRP ETF, which has already garnered significant attention in the cryptocurrency market. The introduction of these ETFs marks a notable expansion in Grayscale's offerings and reflects the growing interest in cryptocurrency investment products.

U.S. Bitcoin spot exchange-traded funds (ETFs) experienced a significant net outflow of $903 million on November 20, marking the second-largest outflow since their inception in January 2024. This decline is largely attributed to major withdrawals from BlackRock and Grayscale, reflecting growing investor caution amid market volatility.