Chainlink Whales Make a Comeback, Acquiring $263M in LINK

On-chain data indicates that the top 100 whales on the Chainlink network have recently begun amassing the asset again, reversing their previous distribution patterns.

Key Takeaways

Top Whales Accumulate: The largest Chainlink holders have started accumulating, contrary to their previous selling in October.
Substantial Reinvestment: Since early November, these whales have collectively bought back 20.46 million LINK tokens, valued at approximately $263 million.
Price Behavior: Despite recent accumulation, the price of Chainlink is currently around $12.96 and below a critical technical support level.

Chainlink Top Whales

As illustrated in the chart above, the combined holdings of the top 100 Chainlink wallets decreased in October, indicating that these major investors were offloading their assets. This sell-off began as LINK’s price experienced a sharp decline and continued until early November, when holdings reached a lower point.

Shortly after this dip, the accumulation by the largest LINK investors began to rise again. According to Santiment, these whales have added a total of 20.46 million tokens—equivalent to about $263 million—to their portfolios. This not only counters the October drop in their holdings but actually surpasses it, bringing their overall supply to a higher level.

While the top addresses have shown net accumulation since the start of November, the rate of purchases has not been consistent. The data suggests that most of the accumulation took place in November, with limited activity noted in December thus far. The upcoming behavior of the largest LINK investors will be closely watched, as it could impact the cryptocurrency's future trajectory.

In other news, Chainlink recently breached a multi-year technical support level, as highlighted by analyst Ali Martinez in a post on X.

Chainlink Support

This chart reveals that Chainlink successfully tested this support line multiple times in the first half of 2025, but the recent price decline led to a breakdown, marking the first time since 2023 that LINK has traded below this crucial support level. Following the breach, LINK attempted to reclaim this line, but the subsequent test from below was met with rejection, suggesting that former support may have now turned into resistance.

Chainlink Whales

Summary of Recent Accumulation Trends

In a recent update on X, the on-chain analytics firm Santiment revealed intriguing insights into the activities of the largest Chainlink wallets. These are classified as the "top addresses," encompassing the 100 biggest wallets on the network. These significant players, often referred to as whales, hold considerable influence due to the size of their investments. Monitoring their actions can provide valuable insights into market trends.

Current LINK Price

Currently, Chainlink is trading around $12.96.

Chainlink Price Chart

As observed in the price chart above, the asset has experienced a significant decline in recent days, leaving many investors on alert for potential trends in the near future.