Chainlink price hits support as exchange supply dives ahead of ETF launch

Dogecoin's price has continued to decline, falling below critical support levels and reaching its lowest point since April, as negative sentiment pervades the cryptocurrency market. The token has experienced a significant downturn over the past four weeks, raising concerns about its future performance.

Grayscale has identified Chainlink as the 'critical connective tissue' of tokenized finance, asserting that LINK will serve as essential infrastructure for the next phase of blockchain adoption. This statement aligns with Grayscale's ongoing efforts to enhance its cryptocurrency offerings and market presence.

The cryptocurrency market is experiencing a notable increase today, November 23, as investors capitalize on recent price dips and stablecoin supply on exchanges begins to rise. Bitcoin's price has surged to $86,000, reflecting an almost 8% increase from its lowest point this year.

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.

Bitcoin is currently trading just above $83,000, amid a wave of liquidations totaling approximately $2 billion. This decline has been accompanied by significant outflows from spot exchange-traded funds (ETFs), indicating a challenging environment for major cryptocurrencies like BTC, ETH, XRP, and SOL.

Dogecoin price has broken through several major support levels, with price action turning sharply bearish. A new yearly low at $0.08 is now at risk if sellers continue to dominate the market.

Asia's crypto media landscape is undergoing significant changes, with a notable concentration of traffic among fewer than 20 leading outlets. In the second quarter of 2025, 82% of all crypto-native traffic in the region was directed towards these tier-1 publishers, indicating a shift in how audiences consume crypto news and information.

Pi Network price is forming a rare Adam and Eve bullish reversal pattern as it remains above key volume support. This development signals a potential bottom and suggests a movement towards higher resistance levels in the cryptocurrency market.