Crypto News: Chainlink LINK Whale Moves $16.94M in Massive Binance Withdrawal

Chainlink (LINK), a leading decentralized oracle platform, experienced a notable 15.33% price drop over the past week amid prevailing market volatility.

Despite this decline, large investors known as whales are actively accumulating LINK tokens, pushing the crypto community to speculate about a potential rebound.

Recently, a whale moved 934,516 LINK—worth approximately $16.94 million—from Binance hot wallets to a newly created private wallet, signaling a strategic "buy the dip" maneuver rather than selling.

The withdrawal of such a substantial quantity from Binance reduces liquid supply on the exchange, which often prompts scarcity and, consequently, upward price pressure.

Chainlink currently trades around $18.44, having fluctuated between $17.68 and $18.80 recently, while trading volume dropped by nearly 24.5% to about $866 million.

The market’s Fear and Greed Index stands at 32, indicating extreme fear, with many traders reallocating funds into Bitcoin.

Still, the whale activity hints that longer-term holders anticipate a resurgence for LINK.

The whale's use of a fresh wallet raises questions about whether these tokens will be staked or held dormant.

Either way, this movement is interpreted as a bullish sign, as the reduced exchange supply can trigger a price rally.

Chainlink's price has been consolidating for some time but could break out to reclaim levels seen in September, when LINK was trading above $25.

Whale Moves and Price Prospects

The recent whale withdrawal aligns with continued large-holder interest, as whales have accumulated millions of LINK tokens during price dips earlier in 2025.

This on-chain activity often precedes upward momentum, especially if whales maintain their buying trend.

Notably, Chainlink whales reportedly acquired over 1.38 million LINK during recent market dips, reflecting institutional confidence in Chainlink’s growing role in decentralized finance (DeFi) and data oracles.

Positive developments underpinning Chainlink include partnerships with major corporations and government bodies expanding its data infrastructure footprint.

Analyst projections suggest that if LINK can break key resistance levels, it could rally to a $24-$28 range, close to the highs seen this year.

Historical whale activity shows accumulation before previous rallies, hinting that another surge may be forthcoming if buying continues.

Chainlink remains a key player as institutional and retail investors closely watch its liquidity and whale movements.

The large withdrawal from Binance is a strong indication of confidence among major holders, bolstering hopes for a recovery despite recent downward pressure.