Chainlink (LINK) accumulation by whales intensified notably after the general market crash on October 11. Large investors withdrew 9.94 million tokens, equivalent to $188 million, from the Binance exchange. The movements were highlighted by on-chain data providers. This data shows a clear “buy the dip” tactic by large-capital investors.
Analysis of the blockchain reveals the operation’s magnitude. The $188 million in LINK was quickly distributed to 39 newly created wallets. This massive exit significantly reduced the available supply on the centralized exchange. But the buying did not stop there. The trend continued during the second half of the month. Additional purchases were recorded for another $116 million. Of that total, $54 million was specifically concentrated in the $16 range. This second wave of buying was also spread across more than 30 new wallets, reinforcing the strategy of exiting centralized platforms.
Chainlink functions as a decentralized oracle network, a pillar in the sector. Its role is to connect real-world data with smart contracts on various networks. When large volumes of tokens leave exchanges, the liquidity available for sale contracts drastically. This supply reduction (supply shock) is a relevant milestone for the asset. It suggests that large holders prefer self-custody. This action demonstrates confidence in the project long-term, perhaps anticipating higher future value and less interest in immediate selling.
Are we facing a bullish signal or a concentration risk?
The price reaction was almost immediate. After the first major outflow, LINK rose 3%. The second purchasing boost, days later, led the price to a rally of nearly 14%. This pattern demonstrates how the lower available supply amplifies price jumps during any sustained wave of demand. For institutional investors, this Chainlink (LINK) accumulation by whales suggests conviction in the integration of oracles with the DeFi sector and real-world assets (RWA). However, this movement also alerts compliance teams. The transfer of funds to anonymous private wallets reinforces the need for KYC/AML controls on platforms.
Although Chainlink founder Sergey Nazarov has noted these moves might be internal reorganizations, the volume is noteworthy. The pattern’s repetition points to strategic positioning. The strong accumulation indicates the market prioritizes keeping LINK off exchanges. Analysts are now watching the psychological $20 barrier. Breaching this key level could confirm the continuation of the asset’s bullish trend. The RSI indicator will also be crucial to determine if demand is exhausted in the short term.
