Big Chainlink whales are quietly loading up. Over the past several days on-chain trackers have spotted roughly 1.567 million LINK — about $19.8 million — moved off exchanges into whale and newly created wallets, signaling steady accumulation even as price action stays muted.
What happened
- Price/action: LINK is trading around $12.65 (down ~0.22% on the day) after bouncing up from a dip near $11 days ago. Moving averages have converged and volatility has eased, creating a compressed trading range many traders view as a buying window.
- Whale buys: Onchain Lens flagged a single whale buying LINK two days in a row; on December 22 that wallet bought 360,551 LINK (~$4.53M) from Binance and now holds about 806,327 LINK (~$10.17M). Lookonchain identified 11 newly created wallets also acquiring a combined 1.567M LINK (~$19.8M) from Binance.
- Large-order trend: CryptoQuant’s Spot Average Order Size shows sustained large whale orders for seven consecutive days, with most activity on the demand side as the market cooled.
- Exchange flows: Exchange netflow has been negative three days running, sitting near -384.9k LINK at press time, after the unlocking of 11 million LINK. Net outflows historically reduce selling pressure and can precede upward moves.
On-chain + technical read
- The accumulation and falling exchange balances point to buyer conviction beneath the price.
- Whales appear to be defending the $12 area; LINK pushed above the short-term MA9, signaling short-term bullish momentum.
- However, momentum indicators remain subdued: Chainlink’s Stochastic OTT is below its K line (OTT ~1,043; signal ~1,042), consistent with a range-bound, lower-volatility market structure.
What to watch next
- Bull case: If whale buying continues and LINK holds above MA9 (~$12.6), the altcoin could test resistance near $14.5.
- Bear case: Losing MA9 support would likely expose downside toward about $11.8.
Bottom line
Whales piling into LINK while volatility is low suggests quiet confidence and sets the stage for a potential breakout if buying pressure persists. That said, technicals are still muted and risks remain — traders should watch MA9 and exchange flows for the next directional clues.
Disclaimer: This summary is informational only and not investment advice. Do your own research before trading. Sources: CryptoQuant, Onchain Lens, Lookonchain, TradingView. © 2025 AMBCrypto
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