Whales Accumulate Chainlink Amid Altcoin Bloodbath: Is a Reversal Imminent?

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Chainlink Is Being Quietly Targeted By Large Players. Find Out What The On-Chain <a href="https://pricpr.com/data">Data</a> Is Showing

Chainlink has been facing challenges recently, as the altcoin market is very competitive. However, some of the biggest investors are starting to show a particular interest in LINK, more so than in other cryptocurrencies.

Despite a very difficult market for altcoins – with many near record lows and trading volume declining – analyst Darkfost has noticed some positive activity. Large investors are starting to focus on a few specific tokens, and Chainlink is among them. This is unusual given the current overall downturn in the altcoin market.

Darkfost uses a simple but proven method: it monitors the activity of major cryptocurrency holders – often called ‘whales’ – to see if they are buying (accumulating) or selling (distributing) their coins. A key signal is when whales start moving large amounts of cryptocurrency off of exchanges and into their own secure storage. This isn’t random; it suggests these large investors have insights the wider market doesn’t yet have.

As an analyst, I’m seeing that altcoins aren’t performing well for those holding on for gains right now. However, some data regarding Chainlink (LINK) on the blockchain is hinting that this might be about to shift, and certain investors seem to anticipate a change.

The Data Has Two Peak Days and a Rising Average

A recent analysis by Darkfost of on-chain data reveals a potential signal from a large cryptocurrency holder (‘whale’). Binance has seen two days with unusually high LINK withdrawals – over 8,000 LINK in a single transaction – which is notable considering the generally calm outflow patterns. However, the most significant change isn’t the peak withdrawals themselves, but the overall increase in the typical amount of LINK being withdrawn.

Starting in mid-February, the average daily outflow of the top 10 largest transactions has increased from around 2,000 LINK to almost 2,600 – a 30% jump in consistent activity. While occasional spikes can happen, this consistent rise in the average indicates a clear trend.

With most altcoins currently showing weakness, the recent large withdrawals of LINK from Binance are significant. These aren’t people moving their coins to sell them elsewhere, but rather taking them off the exchange for secure, private storage. This means fewer coins are available to sell, and this pattern, continuing for weeks, strongly suggests someone is actively buying and holding, or ‘accumulating,’ LINK.

Darkfost’s careful analysis is valuable and should be taken seriously. Similar dips in the past haven’t reversed the overall downward trend. There’s clear evidence of significant activity from a large Chainlink holder. It remains to be seen if this activity will be enough to shift the market, and we’ll likely find out in the next few weeks.

The signal is there. The confirmation is not yet.

Chainlink Tests Lows as Trend Structure Weakens

Chainlink’s price is currently near a multi-year low, struggling to stay around $9 after several attempts to recover. The price chart shows a consistent pattern of falling peaks since early 2024, indicating a continuing downward trend that has weakened any positive momentum.

The price has fallen below both the 50-week and 100-week moving averages, and these averages are now trending downward, meaning they’re likely to act as barriers to price increases. This confirms that the overall trend is still favoring sellers. The 200-week moving average, which is just above the current price, may offer some support, as it’s been an important level in the past. However, if the price falls below this level, it would strongly suggest a long-term downward trend.

Looking at trading volume helps us understand what’s happening in the market. Big drops in price often happen with high volume, which suggests a lot of people are selling. Recent price increases, however, haven’t been matched by a similar increase in trading volume, meaning buyers aren’t strongly convinced. This difference often signals that the price will either stay relatively stable for a while, or fall again.

Although the market isn’t showing a strong trend right now, this price level is still important. In the past, prices at this level have often led to buying activity. The main thing to watch is whether buyers step in and push prices up, or if this is just a brief pause before prices continue to fall.

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2026-04-02 10:57