BTCC
/
BTCC Square
/
Global Cryptocurrency
/
Chainlink LINK Rally Driven by Whale Accumulation Faces Short-Term Resistance as Exchange Reserves Signal Caution
Chainlink LINK Rally Driven by Whale Accumulation Faces Short-Term Resistance as Exchange Reserves Signal Caution
12
3
Chainlink LINK News -
Chainlink's price surge to $24.80 has been fueled by aggressive whale accumulation, with 1.1 million LINK ($27.2 million) added to large wallets in the past week. Smart money addresses increased holdings by 12.6%, while the top 100 LINK wallets resumed buying—defying broader market weakness.
However, exchange reserves suggest potential short-term cooling. The August 16 drop to 162.59 million LINK initially supported the rally by reducing sell pressure, but this metric now indicates possible consolidation. While Chainlink's DeFi utility remains strong, the sustainability of this whale-driven momentum is uncertain.
By:
