{"id":45982,"date":"2025-09-05T15:32:06","date_gmt":"2025-09-05T15:32:06","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=45982"},"modified":"2025-09-05T15:32:06","modified_gmt":"2025-09-05T15:32:06","slug":"link-slides-15-from-august-peak-even-as-chainlink-reserve-removes-5-5m-from-circulation","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=45982","title":{"rendered":"LINK Slides 15% From August Peak Even as Chainlink Reserve Removes $5.5M From Circulation"},"content":{"rendered":"
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LINK, the native token of oracle service Chainlink has been under pressure recently as a number of positive headlines failed to break the decline.<\/p>\n

The token slid another 2.8% over the past 24 hours to $22.4 while the broader market, as measured by the CoinDesk 20 Index was little changed, CoinDesk data shows. It’s trading 15% lower since topping $27 on Aug. 22, despite being tapped<\/a> by the U.S. government to publish economic data on the blockchain and Bitwise filing<\/a> for a LINK exchange-traded fund (ETF). <\/p>\n

The cool-off period follows a rally that saw the token booking a 37% gain in August, one of the strongest advances among major cryptos. It also coincides with bitcoin (BTC), ether (ETH) and the broader crypto market pulling back since mid-August.<\/p>\n

The losses occurred even though the Chainlink Reserve<\/a>, an automated mechanism that buys tokens on a weekly basis, essentially taking them out of circulation and reducing supply, purchased another 43,937 LINK on Thursday. Since its debut in early August, the mechanism has bought a total of 237,014 tokens, worth $5.5 million at current prices.<\/p>\n

Technical analysis<\/h3>\n