Chainlink whales accelerated accumulation as LINK fell, boosting top-holder balances by 4.59% to 646M LINK while spot netflow turned –$7.62M, signaling strong buying pressure that could underpin a recovery toward the EMA20 at $20.3 if selling subsides.
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Whales increased holdings by 4.59%, reaching 646 million LINK.
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Netflow stood at –$7.62M, indicating rising exchange outflows and spot accumulation.
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Derivatives show bullish skew: Futures Taker CVD green, Long/Short Ratio 3.38; EMA20 at $20.3 is critical.
Chainlink whales increase holdings as LINK dips, signaling spot accumulation and a potential rebound — read COINOTAG’s concise market update and analysis.
By COINOTAG — Published: 2025-10-17 — Updated: 2025-10-17
How are Chainlink whales reacting to the recent LINK dip?
Chainlink whales have been actively buying the dip: top-holder balances rose by 4.59% to 646 million LINK while exchange netflow turned negative, reflecting withdrawals and accumulation. This pattern points to sustained spot buying even as price traded down to the $17.7 area.
What does on-chain and exchange data show about accumulation?
On-chain analytics (Nansen) record continuous whale balance inflows over four days, including a single large purchase of 934,516 LINK (~$16.92M) observed on Lens. Exchange metrics (CoinGlass) report a Netflow of –$7.62M at press time, which signals net withdrawals from exchanges and growing spot holding pressure. These data points together indicate institutional and large-holder confidence during the retracement.
Source: Nansen (data presented as plain text)
What do derivatives and order-flow metrics indicate for LINK?
Derivatives activity signals dominant buyer pressure: CryptoQuant’s Futures Taker CVD remained positive across the week, and Average Order Size increased as large trades dominated futures markets. Coinalyze shows a Long/Short Ratio of 3.38 with longs at 77.15% of contracts, indicating a clear bullish skew among derivatives participants despite the spot price pullback.
Source: CoinGlass (data presented as plain text)
Source: CryptoQuant (data presented as plain text)
Source: CryptoQuant (data presented as plain text)
Source: Coinalyze (data presented as plain text)
Is LINK price aligned with on-chain accumulation?
Despite accumulation signals, LINK’s price has lagged. The token registered a three-day decline from a failed breakout at $20 down to a low of $17.70, trading around $17.98 at press time (–5.3% 24h, –16.8% 7d). Price action suggests accumulation has not yet been fully priced in and short-term weakness remains possible.
What technical levels should traders watch?
Key technical references: the 20-period EMA near $20.3 acts as immediate resistance. The lower Bollinger Band around $16.94 may provide near-term support. A sustained break above EMA20 would open the path toward the upper Bollinger Band near $24, while failure to hold $16.94 could extend losses.
Source: TradingView (chart image provided as plain text)
Frequently Asked Questions
How many LINK do whales currently hold after the latest accumulation?
Top holders increased balances by 4.59%, bringing whale holdings to approximately 646 million LINK. This figure comes from on-chain analytics data (Nansen) and reflects sustained accumulation over multiple days.
Will whales’ buying prevent further losses in LINK?
Large-holder accumulation improves the probability of reduced selling pressure, but price outcomes depend on liquidity and broader market conditions. If selling continues, LINK could test the Bollinger lower band around $16.94 before a sustainable rebound.
Key Takeaways
- Whale accumulation is underway: Top holders added 4.59%, totaling ~646M LINK, including a ~934k LINK whale buy.
- Derivatives bullish skew: Futures Taker CVD positive and Long/Short Ratio at 3.38 indicate buyer dominance in derivatives.
- Technical outlook: EMA20 (~$20.3) is key resistance; immediate support sits near the lower Bollinger Band (~$16.94). Monitor netflow and large-order activity.
Conclusion
Chainlink’s recent pullback has coincided with pronounced whale accumulation and a bullish derivatives backdrop. While on-chain and exchange metrics (Nansen, CoinGlass, CryptoQuant, Coinalyze, TradingView) suggest institutional buying, price has yet to confirm a reversal. Market participants should watch EMA20 at $20.3 and the Bollinger lower band at $16.94 for signals of renewed momentum. For ongoing coverage and data-driven updates, follow COINOTAG’s market analysis.
