Chainlink (LINK) is experiencing a significant wave of accumulation from major investors, coinciding with its latest network developments. On-chain data indicates that nearly 10 million LINK (worth approximately $188 million) has been withdrawn from the Binance exchange by 39 new wallets since October 11th, signaling a strong conviction for long-term holding.
Whale Activity and Exchange Drain
This latest move reinforces an existing trend: earlier this month, 30 wallets had already pulled another 6.25 million LINK (around $116.7 million) off Binance. This consistent movement of tokens off centralized exchanges is interpreted by analysts as a “clear sign of accumulation.”
- Accumulation Rate: Crypto analyst Tom Tucker noted that the Holder Accumulation Ratio has hit 98.9%, indicating that virtually all existing LINK holders are adding to their positions.
- The “Why”: This surge in confidence is happening as Chainlink rolls out its new Treasury Pool program, designed to reward key contributors like node operators and community members for supporting the network’s growth.
Technical Price Watch
Despite the strong accumulation signals, the price action for LINK remains at a critical juncture:
- Recent Movement: LINK climbed 5% over the weekend, hitting a high of $19.02, but has since pulled back and is trading around $18.57.
- Key Resistance: While the price is above its 5-day average, it remains below the significant 20-day level at $19.86. The Relative Strength Index (RSI) at 46 suggests only moderate buying pressure.
- Analyst Outlook: Analysts believe LINK “needs to break above $18.7 to open the door to $23–$25.” However, failure to sustain this momentum could lead to a retest of the strong support level at $15.4.
The combination of rapidly dropping exchange balances and high-profile whale accumulation suggests growing investor confidence in Chainlink’s long-term value, potentially setting the foundation for a sustained price breakout once the broader market strengthens.
October 2025, Cryptoniteuae
