Chainlink's native token, LINK, dropped 4% to $21.30 on Thursday, driven by increased institutional selling pressure. This marks the token's lowest price in over a week, coinciding with a broader downturn in the crypto market, as reflected by a similar decline in the CoinDesk 20 Index. Despite the price drop, the Chainlink Reserve continued its weekly token-buying activity, acquiring 45,729 LINK valued at nearly $1 million. However, the reserve is currently at a loss, with LINK trading below its average cost basis of $22.44.