Chainlink LINK, Despite Coinbase Partnership, Dropped 5%

Chainlink (LINK) has lost %5 in value over the last 24 hours. This decline is associated with the overall market weakness. However, during this period, trading volume showed an increase of %20 above the weekly average. It is noteworthy that institutional activities have emerged at the session lows.

In the news, Coinbase announced that it will establish a new $7 billion asset bridge with Chainlink's Cross-Chain Interoperability Protocol (CCIP). Additionally, the digital asset treasury firm Caliber has started staking for its held assets.