Whale Transfer Tests Chainlink's Price Rally
Chainlink's recent price rally faced a fresh test after a whale transferred $2.3 million in LINK to Coinbase, causing a brief retreat from its peak.
The whale acquired 198,300 LINK tokens worth approximately $2.3 million from Cumberland and then deposited them into Coinbase, which added sell-side supply to the market.
However, despite this development, Chainlink still managed to maintain a strong weekly advance of 22.82% over seven days.
In fact, recent data indicates that spot outflows exceeded the whale's deposit by $8.35 million, suggesting that the broader flow picture remains more supportive than initially implied.
This trend may reduce the immediately available exchange supply, but it did not change the daily selling flow pattern otherwise.