Chainlink Price Drops Below $12 as Whale Transfers $26M to Coinbase

A significant Chainlink wallet transferred $26 million in LINK tokens to Coinbase over the past month. The deposit, made via Binance, raised concerns about potential selling pressure on the market.

Chainlink's price declined below its critical $12 support threshold and currently hovers around $11.80. Despite this, network active addresses have maintained 66% of their gains from late August.

The Chainlink ecosystem has surpassed $30 trillion in cumulative transaction value, with the Cross-Chain Interoperability Protocol (CCIP) weekly volume increasing by 260%. The platform also secured a key partnership with prediction marketplace World, which will utilize Chainlink Data Streams and Runtime Environment for automated settlement across various markets.