Chainlink is a third-generation cryptocurrency that is often upstaged by names of more popular alternatives like PolkaDot, Cardano, and even XRP. However, it seems like a new altcoin season rally is going to sneak up in the crypto markets without any warning. Grayscale has recently announced that its Chainlink Trust has been appreciated about 41.34% since the time of its inception.
According to the statistics shared by the official Twitter account of the fintech giant, Grayscale crypto Trust is only shy of $46 billion in terms of AUM. The biggest contributor to this amount is Bitcoin Trust, valued at $35 billion. Ethereum Trust claims the second position at $8 billion AUM, and the Chainlink Trust qualifies for a runner-up position of $5.8 million AUM.
Grayscale Catching the Eye of the Big Fishes
Grayscale takes pride in being one of the leading financial organizations that added Chainlink to its list of investments. The Grayscale Chainlink Trust was officially introduced to the public at the end of February 2021. It has managed to show tremendous growth potential in a little amount of time. ChainLink is also an oracle network that several DeFi tokens can use as an ecosystem.
Big names like Rothschild Investment caught wind of Grayscale Crypto Trusts and bought about $4.75 million worth of shares from Grayscale Ethereum Trust in the first quarter of the ongoing year. LINK was added to the selective list of crypto Trusts alongside four other contenders, namely FIL, LPT, BAT, and MANA. It seems that Chainlink has been able to make the most progress in the altcoin Trust directory at Grayscale.
Is a new Ethereum Killer on the Rise?
The current price boost of Chainlink has been reinforced by a whitepaper published by the founding team behind the blockchain. The whitepaper is titled “Chainlink 2.0 and the Future of Decentralized Oracle Networks.” This whitepaper has explained the upcoming upgrades and integrations that would transform the blockchain into the ultimate crypto ecosystem.
These new features would include enhanced smart contracts, higher scalability, off-chain computation security, external data enhancement, and privacy protocols. Thus far, the blockchain boasts about 50 thousand active wallets that have above zero balance. It should be noted that last week the blockchain announced about five hundred new integrations.