Chainlink Sees 10% Drop in New Rewards Program

Chainlink Loses 10% on Crypto Sell-Offs; New Rewards Program Launched

3 November 2025 at 20: 56

Reading time: 2 minutes

As the crypto market continues to fluctuate, Chainlink's LINK token suffered a sharp 10% drop on Monday, resulting in its lowest price since the October 10th flash crash, which broke through crucial support levels. Trading experience soared 674% above its 24-hour average, with over 12 million LINK tokens exchanging hands in less than 30 minutes, sending the price plummeting from $16,21 to $15,02.

The recent performance of LINK are concerning. The token has underperformed the CoinDesk 5 Index by more than 5,8%, indicating technical vulnerability, amplified by high trading volumes. CoinDesk Research's technical analysis points to a failed breakout earlier in the week and a lack of fresh stimulus as key factors driving this movement. LINK currently faces a crucial support level around $15,25. If buyers fail to stabilize this range, the risk of a further decline to around $14,50 could increase significantly.

New initiatives from Chainlink

The selling pressure coincided with the announcement of chainlink about the launch of “Rewards Season 1,” a new incentive program starting November 11th. This initiative allows eligible LINK stakers to earn token rewards from nine participating Chainlink BUILD projects, including Dolomite, Space and Time, and the Truflation-connected Truf Network. As mentioned in Monday's blog post, participants can earn “Cubes”—non-transferable reward points—based on previous staking activity, which they can allocate to projects of their choosing before the rewards begin releasing in mid-December.

For LINK traders, there are some key technical levels to watch. Immediate support lies between $15,25 and $15,30, while resistance lies at $17,66. The peak volume reached 12,4 million tokens, representing a 674% increase from the daily average. Chart-wise, the breakout was confirmed, with lower highs following the failed attempt. This leads to important target points and risk-reward analysis: if $16 fails to hold, the downward movement could extend to $14,50, while a recovery faces strong resistance around $20.

Frequently Asked Questions

What are the main reasons for LINK's recent decline?
The decline can be attributed to a combination of technical weakness, high trading volumes and a failed breakout without fresh stimulus measures.

What does the launch of “Rewards Season 1” mean for LINK stakers?
This new incentive program offers stakers the opportunity to earn reward tokens from various Chainlink BUILD projects, potentially leading to increased demand for LINK as the rewards increase in value.

Which technical levels are important for the future of LINK?
Key levels include immediate support around $15,25-$15,30 and resistance at $17,66. A drop below $15,25 could increase the risk of further losses.

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