Chainlink (LINK) rose 14% as figures from the blockchain, quoted by FXEmpire, showed that large holders bought about $116M worth of LINK after the recent price drop. The concentration of buying in a few hands matters for traders, crypto treasuries and funds because it changes how much coin is on offer and how far prices may swing in the short run.
Blockchain records show the buying did not happen only once. Reports say fresh deposits of about $29M arrived during a two week span that brought in a total of $150M. At the same time, new wallets pulled 1.67 million LINK off exchanges and one known address alone took 400,000 LINK. The count of wallets that hold more than 100,000 LINK grew by roughly 22%, a sign that fewer people now control a larger share.
On-chain means data stored directly on the blockchain that lets anyone trace transfers and wallet balances. In the past, whale moves have both helped and hurt: on one day, LINK dropped 9% after big holders sold. Another time, the volume of large trades jumped 3,373% to $762.7M (about 59.63 million LINK) during a broad sell off. These examples show that the same buyers who lift prices today can push them back down if they later decide to sell.
Technical drivers and implications
Technical and product news also draws interest, with reports listing platform upgrades such as CCIP and new privacy tools as reasons why institutional money flows in.
When a small group holds more coins and fewer coins sit on exchanges, large buy or sell orders meet a thinner market, so prices move faster and slip further from the intended level.
For corporate treasuries, heavy inflows from whales look like a vote of confidence in Chainlink’s oracle work—yet they also raise the danger of a sudden exit by the same owners. In practice, the setup blends liquidity risk, potential technical support from steady buying, reversal risk if whales switch to selling, and an institutional signal as new features lure bigger capital.
The next level to watch is $20. Analysts quoted in the reports see a break above that mark as the first technical goal—some even target $55 before the year ends.
