Chainlink Whale Activity Hits 7-Month High as LINK Price Rises 15% to $27.21

Large whale activity surrounding Chainlink’s native token, LINK, has reached a seven-month high, according to on-chain analytics and social media observers. The uptick in activity, highlighted by on-chain analyst Ali Martinez and tracked through platforms like Santiment, shows a significant increase in whale transactions and active addresses. Santiment reported 4,624 whale transactions—defined as transfers over $100,000—during the period, marking the highest level in seven months [1]. Additionally, active LINK addresses hit an eight-month high of 6,463, a metric often associated with significant price movements as liquidity shifts between exchanges and long-term storage [1].

The surge in whale activity has sparked debate among investors about whether large holders are accumulating or preparing to sell. On-chain data suggests that roughly 2 million LINK tokens were withdrawn from exchanges within a 48-hour window, a move that analysts interpret as a sign of reduced sell pressure and potential bullish positioning [1]. This aligns with Santiment’s observation that exchange supply is declining while active addresses rise, both of which historically have supported price appreciation in the absence of falling demand [1].

At the time of writing, LINK is trading around $25.40, having seen a notable recovery in recent weeks. The token has surpassed several key resistance levels that analysts have been monitoring since spring [1]. Meanwhile, another report notes that the price has risen to $27.21, a 15% increase from the previous week’s $22.49 [2]. This short-term performance reflects broader bullish sentiment across the crypto market, with Chainlink demonstrating resilience amid general volatility.

Technically, analysts are watching the $24 level as a key near-term resistance. A sustained break above that threshold could signal the start of a larger upward trend, with initial targets set between $29 and $32 [1]. More ambitious projections suggest that if momentum and liquidity conditions continue to improve, the price could extend toward $46 and beyond. However, a failure to hold above mid-$20s could lead to a retest of lower support levels, including the low $20s or high teens [1].

The current environment for LINK appears to be driven by a combination of reduced exchange supply, increased active addresses, and stronger social sentiment. Santiment’s data also shows that bullish comments about LINK now outnumber bearish ones, adding to the positive narrative [1]. These indicators suggest that the token is in a favorable position, though further confirmation will depend on the continuation of on-chain flows and the token’s ability to maintain its position above key resistance levels.

Whale activity has historically been a precursor to price appreciation in the crypto market, as large holders signaling long-term intent can influence market psychology and liquidity. In recent weeks, significant accumulations have been observed, further reinforcing the idea that long-term investors are positioning for future gains [4]. However, as with any market, short-term consolidation is possible, and traders will continue to monitor both whale movements and broader market conditions for the next directional move [1].

[1] CoinMarketCap, https://coinmarketcap.com/community/articles/68ac2d6c3bde1258f425f357/

[2] AInvest, https://www.ainvest.com/news/chainlink-whale-activity-hits-7-day-high-price-rises-15-27-21-2508/

[4] OKX TR, https://tr.okx.com/en/learn/chainlink-derivatives-rally-insights