Chainlink LINK Sees $263M Whale Accumulation as JPMorgan Tokenization Plans Highlight Infrastructure Role

Chainlink whale wallets have aggressively accumulated over 20 million LINK tokens since early November, representing a $263 million bet that signals institutional confidence. This buying spree coincided with LINK's rebound toward the $20 level before settling into its current $12-$13 range, where it is now testing a long-term ascending trendline that has historically marked accumulation zones since mid-2023.

JPMorgan's ethereum tokenization initiatives have brought renewed focus to Chainlink's critical infrastructure role, particularly for providing secure data feeds and cross-chain messaging. Meanwhile, futures open interest has declined to $545 million, indicating reduced leverage among speculative traders—a development that often precedes healthier price action.

Santiment data reveals that the top 100 LINK wallets are driving this accumulation, suggesting strategic positioning rather than short-term speculation. The token's 54% correction from its $27.87 peak four months ago appears to have triggered significant whale buying at what they perceive as value levels.