Chainlink Whale Accumulates 1.58M LINK Tokens Worth $13.3 Million
A large Chainlink whale has made a significant move by buying 1.58 million LINK tokens worth approximately $13.3 million from Binance, reducing exchange supply and signaling confidence in the asset.
The purchase comes as a positive sign for Chainlink, but LINK's price remains stable above the crucial $8.18 support level without a strong breakout. Technical indicators show weakening bullish momentum, suggesting that bears could strengthen if prices dip below $8.215, which is the market's largest liquidation cluster.
Despite this cautious outlook, whale accumulation and strong long positions suggest confidence among investors. The recent purchase and steady outflows from exchanges indicate that investors prefer holding LINK rather than selling it.