Chainlink LINK Soars on Whale Accumulation and Strong Fundamentals

Chainlink's native token LINK has shown significant strength in August, driven by aggressive whale accumulation and key fundamental developments. The asset broke above $26 for the first time in seven months, with traders now targeting a potential test of the $30 resistance level.

On-chain analytics platform Santiment reports a sharp increase in large transactions exceeding $100K and $1 million this month. This aligns with growing institutional interest in Chainlink's Reserve initiative and Cross-Chain Interoperability Protocol (CCIP), which have strengthened the network's utility narrative.

The 30-day Market Value to Realized Value (MVRV) ratio has flipped from -6.765% to 18%, indicating that recent buyers are now in profit territory. Active addresses have simultaneously reached a three-month high, signaling renewed network participation and bullish momentum.