- Chainlink added more than 6,100 new wallets in just two days, marking its strongest daily network growth of the year.
- Top Binance traders remain heavily long on LINK despite the token trading near recent lows.
- A developing double-bottom pattern has traders watching for a potential recovery toward key resistance levels.
Chainlink may not be grabbing headlines with its price action right now, but under the surface, the network is showing signs of growing strength.
Fresh on-chain data reveals a sharp increase in new wallet creation, suggesting new users are entering the ecosystem rather than simply existing traders moving funds around. At the same time, professional traders continue leaning bullish, even as LINK remains stuck near local lows.
It’s an interesting combination—and one that could set the stage for a bigger move if market sentiment continues improving.
Chainlink Records Its Fastest Wallet Growth of 2026
According to blockchain analytics platform Santiment, Chainlink added 3,142 new wallets on June 25, followed by another 3,040 on June 26.
That marks the strongest two-day wallet expansion the network has seen so far this year.
Unlike spikes caused by internal transfers or recycled activity, rising numbers of new wallet addresses have historically pointed toward fresh adoption and new capital entering an ecosystem. That’s generally viewed as a healthier signal over the long run.
The increase also comes as Chainlink continues expanding its role across institutional blockchain infrastructure.
From powering tokenized real-world assets to providing secure data feeds for decentralized applications, the network has steadily built new use cases beyond traditional crypto markets.
Even so, LINK continues trading close to its recent lows.
That disconnect between growing network activity and relatively weak price performance suggests investors may not have fully priced in the improving fundamentals—at least not yet.
Professional Traders Continue Betting on Higher Prices
While retail sentiment has remained cautious, experienced traders appear to be taking a different approach.
Data from Binance shows that 68.75% of its top trader accounts currently hold long positions on LINK, while only 31.25% remain short. That produces a long-to-short ratio of roughly 2.20, reflecting a clear bullish bias among larger market participants.
Instead of reducing exposure during the recent pullback, many traders have continued adding or maintaining long positions.
Their confidence appears to line up with Chainlink’s strengthening on-chain metrics.
Of course, bullish positioning by itself doesn’t guarantee prices will move higher. Buyers still need broader market demand before LINK can reclaim major resistance levels and confirm that improving sentiment is translating into real momentum.
Still… the positioning is worth watching.
Double-Bottom Pattern Keeps Bulls Interested
From a technical perspective, Chainlink has continued defending an important support zone around $7.23.
Each time sellers have attempted to push the price lower, buyers have stepped back in, creating what technicians recognize as a developing double-bottom pattern.
That formation often signals that selling pressure is beginning to weaken, although confirmation only comes if price breaks above nearby resistance.
For LINK, the first major upside target sits near $8.33, where previous rallies have stalled.
A successful breakout above that area could then shift attention toward the psychologically important $9.00 level.
Momentum indicators also suggest the market may be stabilizing.
The Relative Strength Index (RSI) currently sits around 33.8. While that’s still below the neutral 50 mark, it has recovered from oversold conditions, hinting that bearish momentum may be fading.
The bullish outlook, however, isn’t guaranteed.
If LINK loses support around $7.23, the developing double-bottom would fail, opening the door for another wave of selling pressure. Until then, traders appear willing to give the bulls the benefit of the doubt.
With network adoption accelerating, institutional use cases continuing to expand, and experienced traders staying firmly on the long side, Chainlink may be quietly building the foundation for its next major move—even if the price hasn’t caught up just yet.
