Chainlink Whales Dump 4.13M LINK—Is a Rebound Coming?

NAIROBI (Coinchapter.com)—Chainlink (LINK) is under heavy pressure as large holders offloaded 4.13 million tokens in just 48 hours. This sudden whale exodus has rattled investors, contributing to a 15% weekly price decline and raising concerns over the token’s near-term outlook.

Whale Selloff Raises Investor Concerns

Crypto analyst Ali Martinez reported that whales moved millions of LINK tokens to exchanges, a move that typically signals an intent to sell. When large investors reduce their exposure, it can indicate weaker market sentiment and increase volatility.

Chainlink Whales Reduce Holdings as Price Declines. Source: Ali Martinez/X

This selloff also aligns with a broader market downturn, fueled by macroeconomic uncertainties, including trade war fears and impending tariffs. Bitcoin and altcoins have struggled under these conditions, with LINK following the downward trend.

Adding to the uncertainty, prominent crypto trader Nebraskangooner noted that LINK is in a consolidation phase. He warned that a break below key support could send prices plunging to $12.00, while a strong breakout above resistance could trigger a bullish reversal.

However, not all whales are selling—some are taking the opportunity to buy back at lower prices, creating a potential turning point for LINK’s price action.

Are Whales Buying Back Below $20?

Despite the heavy selling, Santiment data reveals an interesting trend—key stakeholders are actively accumulating LINK below $20. The analytics firm reported that 1,659 daily transactions exceeding $100,000 were recorded, the highest level since 2023.

Source:

Chainlink Whale Activity Hits 14-Month High Below $20. Source: Santiment/X

Furthermore, the number of active LINK wallets surged to 9,531—a four-week high—indicating that both retail and institutional investors are still engaged in the asset.

This mixed whale behavior suggests a battle between profit-taking sellers and long-term buyers looking for an entry point.

Furthermore, on-chain data from Token Terminal supports the bullish argument. LINK’s daily active addresses nearly doubled in just three days, surging from 2,900 to 6,300, marking its highest point since December. Alongside this, LINK’s network revenue hit $4,500 on Monday, its strongest single-day performance in over a month.

At the time of writing, LINK is trading around $19.93, reflecting a 3.44% daily decline. The token tested support at $16.91 earlier this week, suggesting a critical price level that could dictate future movements.

If buyers step in, LINK could break above $20 and target $21.50. However, if selling pressure continues, it risks dropping back to $16.91, or even $12.00, as Nebraskangooner warned.

The post Chainlink Whales Dump 4.13M LINK—Is a Rebound Coming? first appeared on Coinchapter.

The post Chainlink Whales Dump 4.13M LINK—Is a Rebound Coming? appeared first on Coinchapter.