Ethereum News Today: Major Crypto Whale Buys 938,489 LINK for $21.23 Million in ETH

A major crypto whale executed a large-scale accumulation of Chainlink (LINK) tokens, acquiring 938,489 units for approximately $21.23 million in Ethereum (ETH) on August 17, 2025. The transaction, revealed through on-chain data, involved 4,806 ETH at an average price of $22.62 per LINK token. The whale’s activity was attributed to five distinct but interconnected wallets, according to blockchain analysts, suggesting a single entity behind the purchase [2]. The movement was tracked on platforms like Arkham, which specialize in monitoring large-scale investor activity in the crypto space [2].

The acquisition triggered a 12% surge in Chainlink’s price within 24 hours of the purchase, contributing to heightened market liquidity and renewed investor interest in the DeFi oracle sector. Both LINK and ETH saw increased on-chain activity, signaling a potential shift in institutional capital toward Chainlink as a strategic asset. The whale’s approach—splitting the purchase across multiple wallets and over a period of weeks—demonstrated a deliberate, low-impact accumulation strategy, designed to minimize price volatility [3].

According to on-chain analysis, parts of the acquisition were executed as early as mid-July, with two wallets swapping 1,791.5 ETH for 351,834 LINK tokens, valued at $7.84 million. These initial transactions were followed by larger purchases in early August, culminating in the significant accumulation observed on August 17 [4]. Analysts noted that this pattern of buying suggests long-term positioning rather than speculative trading, reinforcing the view that major investors are increasingly favoring DeFi-related tokens with clear utility and real-world adoption potential [2].

The lack of any public response from Chainlink or its stakeholders reflects the typical anonymity maintained by large crypto investors. Nevertheless, the whale’s actions have sparked discussions within the market about potential valuation growth for both LINK and ETH. Historical data shows that similar large-scale purchases often precede periods of increased volatility and sustained bullish momentum, although such trends are not guaranteed [3].

The event underscores the growing institutional recognition of Chainlink’s role in decentralized finance and its integration with real-world data systems. However, the long-term success of the token remains contingent on broader market conditions and the project’s ongoing development, rather than whale activity alone [2].

Source:

[1] Whale Buys $21.25M in LINK, Noted for Strategic Trades (https://phemex.com/news/article/whale-acquires-2125m-in-chainlink-known-for-strategic-trades_15205)

[2] Whale Accumulation: 5 Wallets Spend 4806 ETH ($21.23M... (https://blockchain.news/flashnews/whale-accumulation-5-wallets-spend-4-806-eth-21-23m-to-buy-938-489-link-at-22-62-on-chain-data-alert)

[3] Whale Buys $16.43M LINK in Coordinated Accumulation... (https://www.ainvest.com/news/whale-buys-16-43m-link-coordinated-accumulation-spurting-market-volatility-2508/)

[4] Two Addresses Swap 1791.5 ETH for 351834 LINK (https://phemex.com/news/article/two-addresses-swap-17915-eth-for-351834-link-amid-market-shift_15200)