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The biggest Chainlink news today focuses on whales have continued to increase their activity. In just a few hours, whales accumulated 62,207 LINK tokens as the price showed signs of rebound.
The whale accumulation suggests confidence in the LINK future price trajectory. The market is now watching to see the LINK future price outcomes.
Chainlink News: Whale Accumulation Trend
Onchain data analytics platform, Lookonchain, spotlighted the recent whale accumulation trend in a post on X.
According to Lookonchain, a whale wallet address, 0xf386, pulled 62,207 LINK tokens from OKX, a major crypto exchange. At current prices, the tokens are worth about $1.07 million.
Over the past 5 months, this whale has steadily built a position totaling 1.1 million LINK, valued at approximately $19 million today.
Another whale with wallet address 0xe8aa also withdrew 66,113 LINK, valued at about $1.14 million, from Kraken.
In total, this whale has amassed 307,684 LINK, now worth about $5.34 million, accumulated over the past month.
These transactions fit a pattern of whales scooping up LINK during dips, reducing exchange balances and selling pressure.
Whales often accumulate during corrections, betting on the Chainlink technology. For many traders, whale accumulation often precedes price surges. In mid-August, the LINK price surged over 18% in a day, following increased whale activity.
Additionally, Chainlink recently formed a bullish cup-and-handle pattern after whales resumed LINK accumulation.
However, it is important to note that not all whale moves are positive; some could be profit-taking or repositioning.
LINK Circulation is Dropping Amid Large Buyups
In another Chainlink news, onchain analyst Ali Martinez has also commented on the increased Chainlink whale activity. Martinez revealed in an X post that Chainlink whales have accumulated 13 million LINK tokens over the past week.
As whales withdrew to self-custody, LINK on exchanges fell sharply. Typically, when exchange volume drops, it tightens available supply.
As a result, the token becomes more scarce and potentially more volatile to the upside if demand rises.
Buying during dips and moving to private wallets signals long-term confidence among whale investors.
Overall, reduced exchange supply combined with whale hoarding equals less sell pressure, often preceding rallies.
As of this writing, LINK is priced at $17.5, up slightly by 0.3% over the past 24 hours. However, retail investor activity remained low as indicated by the trading volume.
Notably, the daily trading volume decreased by 26.7% to over $880.2 million.
Where is LINK Heading?
Crypto analyst known as Cryptoceek on X has shared his perspective on the LINK future price movement.
The analyst posted a TradingView chart that showed LINK is near breakdown levels. As seen in the chart, the LINK price is struggling around a key support at $15.43.
According to the analyst, if the price closes below this support, it signals bearish momentum. This means sellers overpower buyers, which could trigger a price drop to $12.73.
Conversely, if bulls defend support and break above the $19.02 resistance, it invalidates the bear case. Once this scenario plays out, the analyst expects a potential LINK rally above $21.
Per the Chainlink news, Cryptoceek is not the only one bullish on LINK. Other analysts have also raised bullish predictions for the token.
Analyst Ali Martinez predicted just days ago that LINK could test the $50 levels, citing past channel behavior.
Others see 2026 as a breakout year for Chainlink, based on increased onchain activity and a growing institutional attention.
Notably, Chainlink is moving beyond its early role as a price oracle. According to recent data, Chainlink has secured over $100 billion in assets across over 2,500 projects.
