This post was originally published on Coinspeaker
Key NotesAnalysts highlighted a major technical breakout for the LINK price after a strong consolidation phase.Grayscale’s GLNK ETF debuted on the NYSE, recording 1.17 million shares traded and $14 million in volume on day one.LINK saw a 24% jump in futures open interest, with analysts predicting $20 target ahead.
LINK LINK $14.40 24h volatility: 17.6% Market cap: $10.02 B Vol. 24h: $1.26 B , the native cryptocurrency of the Chainlink blockchain, is showing major strength with 20% upside amid the broader crypto market rally on Dec. 3. This rally comes as the first-ever Chainlink ETF from asset manager Grayscale went live. The overall market sentiment has turned bullish around this altcoin amid recent developments.
LINK Price Surge Leads Crypto Market Rally
After facing strong selling through November, the LINK price saw a major recovery with 20% gains in the last 24 hours, and is currently trading at $14.38. Also, the daily trading volumes for LINK have surged by 84% to $1.12 billion.
According to the CoinGlass data, the LINK futures open interest has also surged 24% to more than $630 million, highlighting strong bullish sentiment.
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