Chainlink Bulls Roar on On-Chain Metrics & Whale Transfers
Chainlink (LINK) has hit a seven-month high, peaking at $24.74 on August 13 before an 11% pullback to $22.29. Its on-chain metrics show record Total Value Secured of over $93 billion and elevated whale transfers—992 above-$100,000 transactions on August 14 and 232 since—driving a 40% weekly rally. Daily active addresses surged 55% this month, reflecting increased retail engagement. Analysts cite strong support at $22.21–23; holding this zone could propel LINK toward $25–25.55, while a breach may trigger a drop to $19.51. The combination of robust fundamentals, on-chain strength and heightened whale activity underlines bullish momentum for Chainlink.
Bullish
Chainlink’s record on-chain metrics and surge in whale transfers coincide with a 40% weekly price rally and a test of multi-month highs, reflecting institutional accumulation and growing retail engagement. The critical support zone at $22.21–23 has held, suggesting limited downside and a high likelihood of further upside toward $25–25.55. Elevated daily active addresses reinforce buyer conviction. Historically, similar on-chain strength preceded sustained price rallies, underscoring bullish prospects both short-term and long-term.