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Chainlink Whales Amass $44M — Is a Major LINK Price Surge Ahead?
A significant amount of whale activity has been observed in Chainlink (LINK), with large investors accumulating the token on exchanges. According to recent data, whales have amassed a staggering $44 million worth of LINK during this price dip.
In a shocking development, over 1.37 million LINK tokens, valued at $34.1 million, have been withdrawn from Binance by 30 newly created wallets. Each of these wallets holds anywhere from 5,000 to 151,000 LINK coins, indicating a clear accumulation trend among large-scale investors. The tokens were transferred to self-custody wallets, suggesting that whales are preparing for potential market shifts.
This significant movement coincides with LINK trading at $24.20 after approaching $30 earlier this month. Analyst Mihir highlighted the importance of $22 as a key support level, pointing out that whales appear to be buying the dip. This development follows a 27% gain over the past month despite a 25% decline in the last week.
A surge in whale activity has also been observed among wallets holding between 10 million and 100 million LINK coins. According to crypto analyst Ali Martinez, these wallets collectively added 4 million LINK tokens, worth more than $44 million, in a short period.
The data further suggests that this trend isn’t limited to new players entering the market. A well-known DeFi project associated with Donald Trump’s family, World Liberty Financial (WLFI), recently boosted its LINK holdings, adding fuel to the fire.
This renewed interest comes as Chainlink’s price consolidates around the $24 range, with analysts identifying $22 as a critical support level.
Source: coinchapter.com
