Chainlink Moves $149M to Binance – Is a Post-Unlock Price Surge Imminent?
Chainlink just made waves with a jaw-dropping $149 million transfer to Binance. Is this the precursor to another explosive rally?
Post-unlock pumps aren’t new in crypto—but when LINK’s involved, traders perk up. The oracle giant’s token has a history of defying expectations after major liquidity events.
Market watchers are split: bulls see this as accumulation for the next leg up, while skeptics mutter about 'smart money exits.' Either way, the timing screams intentional—just days after the latest token unlock.
One thing’s certain: when nine figures move in crypto, someone’s making a calculated bet. Whether it’s genius or greed depends on which side of the trade you’re on.
Bonus jab: Nothing says 'decentralized finance' like a nine-figure IOU changing hands between two centralized entities.
Chainlink Faces Critical Support Test Amid Market Pressure
Chainlink continues to build fundamental strength through key partnerships and steady development, even as global tensions and macroeconomic instability weigh heavily on altcoin markets. With growing adoption across traditional finance and Web3 infrastructure, LINK’s long-term outlook remains robust. However, short-term price action tells a different story. Since peaking in May, Chainlink has seen a steep retracement, now down over 33%, and must defend current levels to avoid triggering a deeper correction.
Against the backdrop of escalating Middle East conflict and tightening financial conditions, most altcoins have lost ground relative to Bitcoin, and LINK has been no exception. Bitcoin dominance recently hit new highs, siphoning capital away from smaller-cap assets. As a result, Chainlink bulls are under pressure to protect key support levels and prevent further erosion of momentum.
Adding to investor anxiety, Lookonchain data shows that Chainlink non-circulating supply wallets transferred 17.875 million LINK—valued at roughly $149 million—to Binance earlier today. These movements raise concerns of possible selling pressure. However, historical data provides some optimism. Chainlink has conducted 11 major unlocks in the past, and many were followed by price increases as liquidity was absorbed and demand recovered.
LINK Price Analysis: Breakdown Extends As Support Levels Crumble
Chainlink (LINK) is currently trading near $11.98 after breaking below key support zones that had previously held throughout Q2 2025. The daily chart clearly shows a persistent downtrend since mid-May, marked by a series of lower highs and lower lows. LINK has now lost over 33% since its May peak near $18, and the most recent candle confirms a clean breakdown below the $12 psychological level.
The 50-day, 100-day, and 200-day simple moving averages (SMAs) are all positioned above the current price, reflecting a strong bearish momentum. The 50-day SMA recently crossed below the 100-day SMA, reinforcing short-term weakness. Moreover, LINK is now trading at levels not seen since early November 2024, exposing the asset to further downside risk if no strong demand emerges soon.
This technical deterioration comes as Lookonchain data reveals that 17.875 million LINK (worth $149M) from noncirculating wallets was deposited into Binance—fueling fears of further selling pressure. While historically many unlock events were followed by recoveries, the current macroeconomic environment, combined with bitcoin dominance surging and altcoins underperforming, may delay any bounce.
Featured image from Dall-E, chart from TradingView
