Chainlink Whales Amass 53M LINK, Eye $25 Breakout
On-chain data shows Chainlink whales (100K–1M LINK wallets) have accumulated 53 million LINK over the past year, including 2.8 million LINK last month and 13 million during the recent market sell-off. This activity has reinforced a critical demand zone around $16, where over 54.5 million LINK tokens are now held, while large withdrawals from exchanges like OKX and Kraken have reduced available supply.
Technically, LINK trades near $17.50, forming a symmetrical triangle. Key support sits at $16 and resistance at $19. A decisive break and close above $25 could trigger a rally toward $53 or even $100. Indicators show RSI near 41 and short-term EMAs under resistance, suggesting an oversold condition.
On the fundamentals, upcoming spot ETF filings by Grayscale and Bitwise may attract institutional capital. Meanwhile, Chainlink’s CCIP and Plasma integrations expand cross-chain and DeFi use cases, and its developer activity ranks second among blockchain projects. Traders should watch for a breakout above $25 or a drop below $16 to plan their strategies.
Bullish
Significant Chainlink whale accumulation and exchange withdrawals have tightened supply, reinforcing a $16 demand zone. Technical signals—symmetrical triangle, RSI near 41, and key EMAs—suggest LINK is poised for a breakout. Institutional catalysts like upcoming spot ETF filings and strong developer activity further underpin bullish momentum. A sustained move above $25 would likely trigger sharp gains, while a drop below $16 could test lower support levels.