Whale Executes $14.8M LINK Withdrawal into 10 New Wallets
On March 25, 2026, a significant Chainlink holder initiated a large-scale transaction, withdrawing 1.62 million LINK tokens worth approximately $14.8 million. The funds were distributed across 10 newly created wallets, a move that introduces uncertainty into the market. Such a transaction could precede a sell-off, which would exert considerable downward pressure on LINK's price. Conversely, if the whale is moving the assets into cold storage for long-term holding or staking, it could be interpreted as a bullish signal, effectively reducing the token's liquid supply.
Large Holders Accumulate LINK Despite Price Stagnation Near $9
This single whale's action unfolds against a backdrop of wider accumulation by sophisticated investors. On-chain data reveals that the number of wallets holding 1,000 or more LINK tokens has climbed to a record high of 25,420. This steady increase in holdings by mid-to-large tier wallets has occurred while LINK's price has been consolidating in a tight range, primarily between $7.50 and $10. This divergence—where large holders accumulate during periods of sluggish price action—has historically preceded renewed recovery momentum. While the LINK token saw a modest 4.07% price increase to $9.05 on March 24, aligning with a broader market rebound, the derivatives market signals that short-term traders remain cautious.
LINK Tests Critical $10 Resistance in Multi-Year Pattern
From a technical perspective, Chainlink's price action is constrained within a multi-year sideways trend. The token is currently trading above a long-term support trendline, gathering momentum for a potential breakout. The $10 level represents a significant psychological and technical resistance barrier. A decisive breach of this price ceiling could initiate a fresh upward cycle, with analysts identifying potential targets at $15, $18, and $23. However, failure to sustain buying pressure could see the price break below its long-term support, risking a decline toward lower levels at $5.75 or even $4.88.
