LINK’s Price Plummets 70%, But Grayscale Just Can’t Let Go!

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Chainlink (LINK), the digital equivalent of a stubbornly optimistic parrot, continues to squawk about its value even as the price takes a nosedive. While the token has plummeted more than 70% from last year’s peak, Grayscale Investments has somehow managed to accumulate more LINK than a toddler with a bag of candy. Welcome to the future, where logic is optional and institutional confidence is measured in crypto-optimism.

In a world where even the most steadfast investors are questioning their life choices, Grayscale remains the ultimate contrarian, buying more LINK as if it were a rare collectible from a bygone era. The data? Oh, it’s all there, gleaming like a golden goose in a spreadsheet. Just don’t ask why anyone would buy a token that’s been on a rollercoaster since 2023.

Grayscale’s LINK Hoard: A Tale of Unwavering Faith

According to Arkham Intelligence, Grayscale’s LINK stash has surpassed 5 million tokens, which is roughly the same amount of sanity a person might lose while watching a crypto chart. Valued at over $43 million, this is less of an investment and more of a bet on the universe’s ability to keep spinning. The firm’s buying spree? A masterclass in “I’ll believe in you, LINK, even when you’re clearly lying.”

The accumulation frenzy peaked in December, when LINK’s price dropped from $15 to $7.2. Grayscale, ever the hero, bought 4 million tokens like they were last-year’s fashion trend. It’s a strategy that only works if you’re 100% sure the market will eventually realize it’s been wrong all along. Which, honestly, is the same gamble we all take with our careers.

LINK ETFs, meanwhile, have been as reliable as a toaster in a hurricane. No negative net flows? That’s not a victory-it’s a miracle. Or, as one analyst might say, “The market is just waiting for the other shoe to drop… which it already did, but in a different universe.”

Despite the chaos, Chainlink’s role as a “critical infrastructure” for DeFi is being touted like it’s the next big thing. Which, honestly, it might be. Or it might just be the crypto equivalent of a bridge that’s still under construction. Either way, the institutional crowd is buying, and who are we to question their judgment? We all know how well that works.

Since February 2026, Chainlink has also been the backbone of five-minute prediction markets on Polymarket. Because nothing says “financial innovation” like betting on the outcome of a coin flip every five minutes. The monthly volume? A staggering $7 billion. For context, that’s enough money to buy a small island and still have enough left for a yacht. If the island has Wi-Fi.

LINK May Enter a Prolonged Sideways Phase Near the Bottom

But here’s the kicker: despite all this, LINK’s price is still in freefall. It’s like a toddler on a trampoline-unpredictable, slightly terrifying, and completely uninterested in stopping. Analysts warn that LINK might enter a “sideways phase,” which is just a fancy way of saying “the market is too scared to move in either direction.”

Market sentiment? A hot mess. Fear is so entrenched, it’s probably forming a cult. And yet, Grayscale keeps buying, because nothing says “long-term vision” like purchasing more of something that’s already been a disaster. It’s a love story, really. Or a tragedy. Or both.

“You cannot underestimate the importance of time-based capitulation. $LINK took 1.5 years to create a bear market bottom in 2023,” investor Greeny commented.

So, what’s the takeaway? If you’re holding LINK, you’re either a masochist or a genius. Or both. And if you’re buying it now, congratulations-you’ve officially joined the cult of the sideways phase. Welcome to the club. The dues are in crypto, and the only rule is that there are no rules.

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2026-02-23 14:46