Chainlink Drops 3.9% Amid Signs of Accumulation
Key Takeaways
- Chainlink (LINK) experienced a short-term price drop of 3.9% within 24 hours.
- Since July 2024, LINK reserves on central exchanges have been declining – a potential sign of accumulation.
- Network activity is rising: new addresses +40.97%, active addresses +18.46% over seven days.
- Large token movements by so-called “whales” are creating uncertainty about the price direction.
- A breakout above the resistance zone at USD 14–14.50 could trigger a new upward trend.
Current Price Development of Chainlink
Chainlink (Ticker: LINK) lost 3.9% in value over the past 24 hours. Previously, the price had increased by 21.6% between April 9 and 21. Despite this pullback, LINK has been in a broader downtrend since early 2025.
Declining Exchange Reserves as a Bullish Signal?
Data from CryptoQuant shows that LINK reserves on centralized crypto exchanges have been steadily decreasing since July 2024. This suggests that investors are withdrawing their tokens from exchanges – often an indication that they intend to hold long-term. Such movements point to accumulation, especially when tokens are transferred to cold wallets (offline storage solutions).
A significant inflow of LINK on March 14 – around 14.57 million tokens – caused short-term selling pressure. Since then, however, outflows have dominated again. Still, the picture remains mixed: individual days with large inflows could indicate selling intentions by major investors.
Growth in User Activity and Addresses
According to data from IntoTheBlock, the number of new addresses rose by 40.97% within one week. Active addresses also increased by 18.46%. During the same period, the LINK price rose by 6.88%. These figures suggest growing interest and increasing network usage – a potential indicator of rising demand.
However, current network activity remains well below the peak levels seen in November and December 2024. For sustainable price development, long-term growth in usage is essential.
The Role of Large Investors (Whales)
Around 46.1% of the total LINK supply is held by so-called “whales” – addresses with particularly large holdings. These actors have repeatedly transferred large amounts of LINK to exchanges over the past ten months. Such moves may indicate selling intentions or the use of tokens as collateral for derivative trades.
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The uncertainty surrounding the behaviour of these large investors makes it difficult to clearly assess future price development. While current outflows suggest accumulation, individual large inflows can create pressure at any time.
Technical Outlook: Key Resistance Levels in Focus
From a technical perspective, the next significant resistance for LINK lies between USD 14 and 14.50. A breakout above this zone could be a positive signal for short-term price gains. The USD 15.55 level is particularly important. If this is surpassed, it could mark a trend reversal on a daily basis – a potential entry point for swing traders.
Our Assessment
Despite the recent decline, Chainlink is showing several positive signals: declining exchange reserves, increasing network activity, and a technical setup with potential. At the same time, the behaviour of large investors remains a source of uncertainty. Those looking to invest in LINK should watch for a sustained breakout above resistance levels and keep an eye on on-chain data. Short-term fluctuations are likely – long-term success will largely depend on continued adoption of the Chainlink network.
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