Chainlink Reserves Plunge as Whales Accumulate Millions of LINK
On-chain data shows Chainlink (LINK) exchange reserves fell by 2.07 million tokens in 48 hours as whale accumulation accelerates. Lookonchain reveals a high-profile whale purchased 663,580 LINK ($16.85 million), pushing prices to fresh 2025 highs near $27.8. Institutional momentum builds: Chainlink secured ISO 27001 and SOC 2 Type 1 certifications for its oracle services, and the Chainlink Reserve added 41,000 LINK, bringing its holdings to 150,778 tokens. A new partnership with Japan’s SBI Group aims to develop tokenized real-world assets, stablecoin reserve audits and cross-border settlement solutions. Technically, LINK is testing resistance at $26.8–$28; a successful breakout could target $31–$34, with support at $22–$23 and a lower zone at $20. RSI at 59 and CMF at +0.16 indicate ongoing buying pressure, making LINK a key crypto to watch for traders.
Bullish
The sharp drop in LINK exchange reserves alongside multi-million-dollar whale buys signals tightening supply and heightened demand, a classic bullish setup. Historical on-chain trends show large withdrawals often precede strong upward price moves, as seen with Bitcoin and other blue-chip altcoins in past rally phases. Institutional validations—ISO 27001 and SOC 2 Type 1 audits—further bolster confidence in the Chainlink network, attracting more capital. The SBI Group partnership opens new DeFi and RWA use cases in Asia-Pacific, potentially driving long-term adoption. Technically, LINK’s RSI at 59 and positive CMF reflect healthy momentum. If the $26.8–$28 resistance breaks, short-term targets of $31–$34 become likely. Overall, the combination of supply constraints, whale activity and institutional support points to a bullish outlook for LINK.