Chainlink LINK Shows Resilience as Whales Scoop Up 438M Tokens Amid Market Swings

Chainlink''s LINK token jumped 7.6% in 24 hours to $14.11, reclaiming a key psychological level after weeks of downward pressure. While the altcoin remains down 14.62% for the month and 51.66% over six months, significant whale accumulation points to growing institutional interest.

Major investors acquired 438M LINK ($6.13B) during the recovery, sparking speculation about a sustained upward trend. Technical analysts identify $19.80 as the next resistance level, though recent ETF delays and failed attempts to break $16 have moderated short-term optimism.

Fundamental strengths continue emerging through cross-border CBDC initiatives, including a Hong Kong-Australia stablecoin pilot. Market sentiment remains split between LINK''s utility-driven potential and broader cryptocurrency market challenges.