Chainlink Drops 8.4% Despite Record $93B TVS and Whale Activity

Chainlink's latest price was $23.57, down 8.406% in the last 24 hours. The cryptocurrency has seen a surge in on-chain activity, with a significant increase in whale transactions and Total Value Secured (TVS) reaching $93 billion. This heightened activity indicates growing institutional interest and technical trader confidence in the platform. The increased TVS and whale movements have bolstered Chainlink's market standing, reflecting a bullish sentiment among investors. Key players in the Chainlink ecosystem, including co-founders Sergey Nazarov and Steve Ellis, have not directly commented on the price target. However, independent traders and analysts suggest that further significant gains are possible if the current momentum continues. The surge in Chainlink's activity aligns with historical trends, where previous rallies have been driven by milestone achievements and increased adoption of related DeFi protocols. Chainlink's Total Value Secured (TVS) reaching a record $93 billion indicates heightened interest from institutional investors. This milestone, along with increased whale transactions, has contributed to the bullish sentiment surrounding Chainlink. The activity seems driven by secondary market factors and adoption growth rather than announced partnerships, affecting assets like ETH and DeFi protocols using Chainlink's services. Historically, Chainlink rallies have aligned with milestone achievements. Previous surges in 2020 and 2021 saw rising adoption of related DeFi protocols. Bullish trader models echo past cycle top predictions, aiming for $47 based on increased whale flows and TVS growth. Potential outcomes include rigorous adoption across DeFi ecosystems, potentially offering financial gains anchored by technological enhancement within related projects. Historical trends indicate medium to short-term volatility post-surges, prompting cautious optimism among traders. Chainlink's on-chain activity achieved two milestones as it supported the major price rally this month. Notably, 9,813 separate wallet addresses made at least one transfer on Sunday, and 9,625 fresh wallets were created on Monday. These two new signals validate that LINK price can continue to push higher toward $30 and above. Cuy Sheffield, head of crypto at Visa, said they partnered with Chainlink to enable a cross-chain and cross-border settlement between tokenized assets in Australia and Hong Kong. Sheffield reflected on how Chainlink CCIP provides secure cross-chain infrastructure, compliance, and identity standards needed to connect global financial institutions, enabling transfers across public and private blockchains. Whales started accumulating Chainlink tokens worth millions since the Chainlink reserve announcement. The platform plans to use proceeds from its decentralized infrastructure’s on-chain and off-chain revenue to fund the reserve. Moreover, Chainlink’s DeFi TVL jumped from $917 million to $981 million in just five days. This indicated more entities locking value into Chainlink-enabled DApps. Chainlink began a strong upward trajectory in July, along with the rest of the crypto market. The altcoin recently hit a seven-month high. In the past 30 days alone, LINK has climbed by almost 30%. Behind the resurgence, the network is seeing an increase in wallet creation and network activity. According to Santiment, Chainlink has strengthened its standing among altcoins with a breakout above $26. This level was last seen in January this year. More telling than the price jump are the network forces fueling it. On Sunday, 9,813 distinct addresses engaged in transfers, and Monday brought 9,625 brand-new wallets, both setting 2025 highs. These metrics suggest organic growth and increasing confidence in the project’s ecosystem. If participation continues at these peaks, the crypto analytic platform said it could validate the upward trajectory and open the door for LINK to challenge $30, thereby establishing an even stronger foothold in the current altcoin market. Market commentators argue that LINK’s breakout is more than a short-term bounce. For instance, a trader observed that the token is on the verge of breaking a four-year resistance trend around the $30 level. They argued that if LINK manages a clear breakout above this zone, it could ignite a parabolic rally, and its price acceleration could resemble steep upward moves seen in past crypto cycles. This surge could ultimately propel LINK toward the $200 mark. Michael van de Poppe, founder of MN Trading Capital, said in a recent post on X that Chainlink’s long-standing downtrend has come to an end. According to him, the asset has now shifted into an upward trajectory, in what appears to be a clear change in market structure. Van de Poppe added that LINK is emerging as “one of the strongest assets in the space,” and attributed the renewed momentum to the announcement of the Chainlink Reserve. The development, he added, could provide a foundation for continued growth as the project gains further traction within the market. Chainlink Reserve was unveiled earlier this month. It’s a new on-chain mechanism that aims to channel enterprise demand directly into the LINK token. The reserve will accumulate LINK through revenue generated from institutional service fees as well as on-chain usage fees from decentralized applications. The initiative is intended to boost the sustainability and long-term growth of the Chainlink network by creating steady buying pressure and aligning institutional adoption with token demand. Chainlink experienced notable developments throughout August 2025, characterized by significant network milestones and strategic initiatives. Mid-month saw a substantial increase in user participation, with analytics firm Santiment reporting that Chainlink recorded its strongest on-chain wallet activity of the year. Over 9,800 unique addresses engaged with the Chainlink network during this period, reflecting heightened interaction and adoption. The latter part of August witnessed a shift in momentum for the Chainlink ecosystem, moving from a previous downtrend to bullish sentiment. This shift was partially attributed to market-strengthening actions undertaken by the Chainlink Treasury. Concurrently, announced partnerships contributed to positive sentiment surrounding the token, reinforcing Chainlink's role within the broader decentralized finance landscape. External analyses highlighted Chainlink's strong upward trajectory observed since July 2025, which aligned with broader positive movements in the cryptocurrency sector. During this period, Chainlink achieved notable price milestones relative to its recent performance history, underscoring growing market confidence in its technology and use cases. The significant increase in active wallets interacting with the Chainlink network during mid-August 2025 stands out as a key technical indicator of expanding network utility and user adoption. This heightened activity level represented the most robust on-chain engagement recorded for Chainlink during the entire year.