"Chainlink's LINK Token: Whales' Massive Dump Sparks 35% Drop Fears"

Chainlink's LINK Token Faces Bearish Pressure from Whales, Potential 35% Drop This Month

Chainlink whales have been offloading massive amounts of LINK tokens, sparking concerns in the market. In the last 48 hours, roughly 4 million tokens were dumped, leading to a 15% weekly loss in the coin's price. This significant sell-off has raised investor concerns about the future performance of LINK.

On-chain data from a top crypto analyst revealed that Chainlink whales dumped 4.13 million tokens to exchanges in the last 48 hours. This massive dump, coupled with the broader crypto market's recent waning movement, has set off severe investor concerns about future performance.

The global crypto market has seen alarming price drops this week, primarily attributed to trade war speculations amid Trump's new tariffs. Although postponed for 30 days, the new tariffs still threaten the global markets. In sync with this saga, even the crypto market sees a downtrend, with BTC and altcoins tanking notably in the past 24 hours. LINK price also mirrored a similar action intraday.

At the time of reporting, LINK price lost nearly 2.5% and exchanged hands at $19.58. The coin's intraday low and high were $19.37 and $21.26, respectively. The current waning action aligns with the broader market trend and increased selling pressure amid Chainlink whales' sell-offs.

However, recent data by Santiment indicated that LINK has stood out amid the recent market swing down. Notably, the coin witnessed heavy key stakeholder dip buying, with massive on-chain activity recorded below the $20 level. This data has set off contrasting speculations over the asset's long-term prospects. A recent by CoinGape aligned with Santiment’s data, revealing that the recent dip is a potential buy-the-dip opportunity for investors. Traders and investors are keeping the coin on their radars as broader market stats continue taking dynamic shifts.