Chainlink Whales Mobilize as $9 Resistance Looms

Chainlink's price has broken out of its recent range and is currently facing a key resistance zone near $9.00, which has rejected the token on multiple occasions since June.

According to blockchain analytics firm Santiment, large LINK holders have been transacting and accumulating at levels not seen since March, with 246 separate LINK transfers worth at least $100,000 each processed in a single 24-hour period on August 12, marking the highest daily count in five months.

This activity aligns closely with Standard Chartered's initiation of coverage for Chainlink, which set price targets of $132 by the end of 2026 and $200 in 2030. The bank's thesis is based on the tokenized-asset market reaching approximately $4 trillion by 2028, with Chainlink positioned as core infrastructure for that growth.

While this surge in whale activity and institutional integration news may be bullish indicators, other signals point to a mixed picture. Spot LINK ETFs have seen tepid demand, with cumulative net inflows of around $128 million, and the token remains down roughly 28% year-to-date.