Chainlink Whales Scoop Up 50M LINK: Rejection Looming or Bullish Signal? Is a major Chainlink (LINK) price swing on the horizon? Recent on-chain activity suggests a pivotal moment for the cryptocurrency.
Over the past five days, massive amounts of LINK have been withdrawn from Binance by large holders, often referred to as "whales," and transferred to private wallets. Blockchain analysis platform Lookonchain reports significant withdrawals, with multiple fresh wallets accumulating substantial amounts of Chainlink. One incident highlights an unknown whale withdrawing 2.7 million LINK tokens from crypto exchange Binance using 49 wallets, according to on-chain analysis tool Lookonchain. This accumulation has sparked considerable interest and speculation within the crypto community. Some estimate that whales have collectively scooped up as much as 50 million LINK.
Analyst Expects Rejection: A Critical Price Zone
However, not all signals point to sustained bullish momentum. Chainlink (LINK) has faced headwinds for four consecutive days and now finds itself at a critical price zone. According to analyst Ali Martinez, this zone could trigger a rejection, sending LINK lower. Martinez\'s data suggests that a specific cohort of investors has already purchased over 7.5 million LINK tokens in the recent downturn, potentially indicating a saturation point. He pointed out that 29 de sept. de 2025 is a hypothetical date, and future market dynamics will dictate price action.
Accumulation vs. Distribution: The Key Question
The central question remains: is this whale activity accumulation or distribution? Lookonchain’s on-chain insights reveal that large whales and institutions are actively accumulating LINK. But will this accumulation be enough to overcome potential resistance at the identified critical price zone? The coming days will be crucial in determining Chainlink\'s short-term trajectory. Stay tuned for further updates as we monitor whale activity and price movements in the Chainlink market. The $12.34 price point is frequently mentioned in discussions about Chainlink; however, current price action is what traders are carefully watching.