- Whale Accumulation: A crypto whale withdrew 77,000 LINK ($1.05M) from Binance, signaling possible accumulation and reducing short-term selling pressure.
- Market Activity Slows: Despite the whale’s moves, large LINK transactions over $100K dropped from 620 to 121 in just three days, suggesting reduced overall whale activity.
- Potential Rally to $24: LINK recently bounced from a $12 demand zone, with a key resistance at $17—if broken, analysts predict a potential run toward $24 or higher.
A crypto whale has withdrawn 77,000 LINK tokens—valued at roughly $1.05 million—from Binance in the past 24 hours, transferring the funds to a mystery wallet tagged “0x985…2988.”
The whale’s largest single withdrawal today was 10,502 LINK (about $145,461) from Binance’s hot wallet. Prior to this, they had pulled 9,495 LINK ($129,704) from another Binance-linked wallet.
Yesterday, the same entity withdrew 11,673 LINK ($160,516) from wallet 0xDFd, followed by 10,776 LINK($150,436) from wallet 0x21a—suggesting a deliberate accumulation strategy.
Whale Activity and Market Signals
Typically, when whales remove large amounts of tokens from exchanges, it signals a plan to hold rather than sell, reducing short-term selling pressure. This move has sparked speculation that LINK might be gearing up for a bullish push.
Interestingly, IntoTheBlock data shows that transactions over $100,000 have dropped sharply—from 620 on March 14 to just 121 on March 17—indicating a slowdown in overall whale activity despite this whale’s movements.
Can LINK Rally to $24?
Chainlink has been showing early signs of a potential trend reversal. With a market cap of around $9 billion and a 15% increase in daily trading volume, LINK is gaining momentum.
On the daily chart, LINK recently touched a demand zone at $12, forming a hammer candlestick—a classic bullish signal. However, a supply zone near $17 could serve as resistance. If LINK manages to break above this level, a run toward $24 or higher could be on the horizon.
Currently, LINK is trading at $13.76, up 1% in the last 24 hours but still down 28% since Donald Trump’s second inauguration. Whether this whale’s accumulation strategy marks the beginning of a sustained breakout remains to be seen.
