Chainlink Whales Gobble $150M LINK in 14 Days – Is This the Start of a Mega Rally?
Big money just made a seismic bet on Chainlink. Crypto whales swallowed $150 million worth of LINK tokens in two weeks—now traders are scrambling to decode the signal.
Whale Watch: The OGs Are Loading Up
When wallets with comma-heavy balances move, markets listen. This isn’t retail FOMO—it’s institutional-grade accumulation. The last time LINK saw this kind of demand, it ripped 300% in 90 days.
Oracle Money Gets a Second Wind
Chainlink’s price action had been snoozing below resistance for months. But with real-world asset tokenization heating up, its oracle network is back in the spotlight. Funny how ‘boring infrastructure’ gets exciting when TradFi finally gets it.
The Cynic’s Corner
Of course, this could just be hedge funds front-running the next ‘institutional adoption’ narrative. Because nothing screams decentralization like billionaires playing hot potato with ERC-20 tokens.
One thing’s clear: when whales feed, altcoins bleed… or moon. Buckle up.
Chainlink Whale Activity Surges With 8.10 Million LINK Purchase
In an X post on August 8, Ali Martinez reports a major rise in whale accumulation on the Chainlink network. Notably, these investors holding between 100,000 and 1,000,000 LINK tokens have collectively added 8.10 million LINK, valued at more than $150 million, to their wallets over the last two weeks.
Generally, such a surge in accumulation, particularly among existing large holders, often signals strong confidence in the market. Historically, elevated whale activity has preceded major price movements, either fueling bullish momentum or marking key distribution zones.
In the case of Chainlink, this reported accumulation is highly peculiar as chart data indicates that accumulation accelerated during the late-July crypto market correction, when LINK traded below $15, and persisted even as prices rebounded above $20.
This pattern suggests that institutional or high-net-worth investors continue to anticipate further price appreciations on LINK despite recent gains.
LINK Heading To $23?
In other news, another popular X analytics page with the username MoreCryptoOnline shares an interesting insight on Chainlink’s potential price action, referencing key support and resistance levels.
In an X post on August 8, these analysts show that LINK is approaching a potential breakout zone. After completing what appears to be the third wave of a five-wave Elliott Wave sequence, the altcoin now targets the $21.07–$22.65 range, corresponding to the 50% and 61.8% Fibonacci extension levels.
However, MoreCryptoOnline emphasizes the importance of the $17.83–$18.87 support zone, derived from the Fibonacci retracement of the current impulse to the proposed bullish sequence. They explain that holding this support level WOULD validate wave 4 as a corrective structure and pave the way for a final push toward $23, or even the 78.6% Fibonacci level near $25.12, as wave 5 completes.
At press time, LINK trades at $20.80 after gaining by 9.58% in the past 24 hours. However, the asset’s market daily trading volume is down by 2.73% reflecting a minor decline in market activity. Meanwhile, with a market cap of $13.89 billion, Chainlink ranks as the $13th largest cryptocurrency.
