Chainlink whales have quietly scooped up more than 1.56 million LINK—about $19.8 million—staking a claim while the market sits in a tight consolidation range.
Price and context
- LINK was trading at $12.65 at press time, down 0.22% on the day. After dipping to roughly $11 about a week ago, the token has since been range-bound, with moving averages converging and volatility muted—conditions that often entice large buyers.
- That compressed price action has translated into a buying opportunity for deep-pocketed investors, who appear to be taking advantage of the lull.
Who’s buying
- Onchain Lens flagged a whale that bought LINK on back-to-back days: on December 22 it acquired 360,551 LINK (about $4.53M) from Binance. That wallet now holds 806,327 LINK, valued at approximately $10.17M.
- Blockchain sleuth Lookonchain reported broader activity: 11 newly created addresses purchased a combined 1.567 million LINK (≈ $19.8M) from Binance over the past three days.
On-chain flows and implications
- CryptoQuant data shows sustained large orders: its Spot Average Order Size metric registered significant whale-sized buys for seven straight days.
- Exchange netflow has turned negative for three consecutive days, with net outflows around -384.9k LINK at press time. Net outflows—especially following the recent unlocking of 11 million LINK—typically reduce selling pressure on exchanges and can help set the stage for upward momentum.
Technical picture
- Whales have defended the $12 level, absorbing selling pressure and helping push LINK above the short-term MA9—an indicator of short-term bullish momentum.
- However, momentum indicators are mixed. The Stochastic OTT remains under its signal line (OTT roughly 1043 vs. signal ~1042), a setup that points to a still-weakened overall structure and range-bound price behavior.
- Key levels to watch: if buyers hold MA9 at $12.6, Chainlink could target the next resistance near $14.50. A breakdown below $12.6 could send LINK back toward $11.80.
Bottom line
Whale accumulation during subdued price action signals cautious confidence: large holders are quietly building positions while volatility is low. Exchange outflows and concentrated buying suggest the downside pressure is easing, but mixed technicals mean upside is not guaranteed—continued accumulation and sustained support above MA9 will be needed to rekindle a meaningful rally.
Disclaimer: AMBCrypto's content is informational and not investment advice. Cryptocurrency trading carries high risk—do your own research before making decisions. © 2025 AMBCrypto
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