Large investors appear to be accumulating LINK, signaling renewed confidence in the project despite ongoing market volatility.
Fresh blockchain data reveals that in the days following a market crash on October 11, a cluster of newly created wallets began removing enormous amounts of LINK from Binance. In total, roughly 6.25 million tokens, valued at around $116.7 million, have quietly left the exchange over the past week.
Institutions Buy the Dip
The largest single withdrawal involved 1.34 million LINK, worth more than $25 million, while several others pulled between $3 million and $6 million apiece. Analysts believe these movements are not casual retail actions but part of a coordinated institutional strategy. The wallets involved show similar timing and transaction behavior – often a telltale sign of large funds accumulating positions over time.
Such off-exchange transfers are typically interpreted as bullish. When investors move tokens to private wallets, it usually means they’re preparing to hold long-term rather than sell. That behavior tends to tighten supply on trading platforms, potentially setting up more favorable price dynamics in the weeks ahead.
Confidence Returns to the Oracle Giant
This accumulation spree marks one of Chainlink’s biggest whale events of the year, coinciding with rising adoption of its oracle technology across major DeFi and enterprise networks. Despite turbulence in broader markets, Chainlink’s infrastructure continues to underpin cross-chain data flows and smart contract automation for dozens of protocols.
Market observers now see the latest buying as a vote of confidence that LINK’s value could rebound sharply once sentiment stabilizes. For whales, the dip seems less like danger – and more like opportunity.