Chainlink Whales Add $22M as Institutions Stay on Sidelines

Chainlink's price has been stagnant over the past week, with its market cap remaining near $6.25 billion and daily trading volume hovering around $215 million.

The high liquidity suggests normal trading activity, but most of it appears to come from retail traders and whales rather than institutional capital.

Two large whale wallets have been active in buying LINK, one adding 266.4K tokens worth $2.15 million and the other purchasing 163.5K tokens for $1.37 million.

The buying activity is seen as a sign of long-term accumulation rather than short-term trading, with one analyst viewing it as a positive indicator for Chainlink's future price action.

Chainlink's price is currently retesting a demand zone between $5.638 and $8.727 that has held strong for four years and sparked past rallies to $22, $29, and $27.