Coinspeaker
Chainlink Whales Withdraw LINK in Massive Quantities Amid Adoption Update
Blockchain analysis platform Lookonchain reported that multiple fresh wallets have withdrawn large amounts of Chainlink (LINK) from leading digital asset trading platform Binance, raising speculations of potential accumulation.
The massive transfers coincide with the recent unlocking of 14.875 million LINK, worth approximately $216 million.
Historically, Chainlink’s non-circulating supply wallet has unlocked tokens ten times and nine out of these ten times, the price of the 13th-largest cryptocurrency has skyrocketed within 30 days.
One wallet moved almost 70,000 LINK while another transferred a massive 84,000 LINK. The least was around 47,000 LINK tokens.
Chainlink Expands Adoption Across Blockchains
Amid these wallet transfers, Chainlink announced new integrations of its standard across different blockchain networks and services.
The new integrations involve multiple blockchains and services, including Solidus Ai Tech (AITECH), HashKey Group, Janction, Jasmy, OpenEden, OpenUSDT, Soil (SOIL), and Swarm Markets.
Sergey Nazarov on Chainlink’s Role in Financial Systems
In a recent interview on The Wolf of All Streets podcast, Chainlink co-founder Sergey Nazarov highlighted Chainlink’s pivotal role under the pro-crypto administration of Donald Trump.
Chainlink powers a significant portion of DeFi, facilitating data feeds, proof-of-reserve mechanisms, and compliance automation, Nazarov noted.
He suggested that Chainlink’s infrastructure is critical for ensuring reliability, security, and efficiency in asset tokenization, thereby driving institutional and global adoption of blockchain-based finance.
The entrepreneur said that Chainlink’s role “boils down to low transaction costs which basically boils down to automation of compliance,” which is what Chainlink is now in the process of providing.
LINK Price Analysis
The Bollinger Bands (BB) indicate that LINK is trading near the lower band at $12, with the mid-band at $14.61 and the upper band at $17.23, posing as resistances.
The current price of $13.74 suggests LINK is in a potential accumulation phase, with support at $12. The Relative Strength Index (RSI) stands at 41.76, which indicates bearish-to-neutral momentum. The gradient of the line indicates a rebound from bearish levels.
Finally, the 20-day EMA is positioned at $14.73, slightly above the current price of $13.74. A breakout above $14.73 could signal renewed bullish momentum. If LINK turns the 20-day EMA into support, the next key resistance to watch is $17.23.
Conversely, failure to hold the $12 support could lead to a deeper correction, possibly testing psychological support at $10.
Chainlink Whales Withdraw LINK in Massive Quantities Amid Adoption Update
