Chainlink Whales Boost Holdings by 0.67% as LINK Surges 36% in 30 Days
Chainlink (LINK) has experienced a strong upward momentum, with its price rising 13% in the last 24 hours to $18.89.
Quick overview
- Chainlink (LINK) price surged 13% in the last 24 hours, reaching $18.89, and has gained 36% over the past month.
- Spot trading volume for LINK increased by 300% to $1.37 billion, while futures volume rose by 252% to $2.63 billion.
- Whale investors have expanded their LINK holdings by 4.2% in August, adding 0.67% of the total supply.
- Technical indicators suggest a bullish outlook for LINK, with support near $18 and potential resistance between $20.50 and $21.
Chainlink (LINK) has experienced a strong upward momentum, with its price rising 13% in the last 24 hours to $18.89. Over the past week, LINK gained 12%, and its 30-day performance shows an impressive 36% increase. The token traded within a range of $15.48 to $19.16 this week, driven by heightened market activity and investor interest.
Spot trading volume for LINK surged 300% to $1.37 billion in the last 24 hours, signaling renewed buying enthusiasm. Meanwhile, derivatives markets reflected increased activity: open interest rose by 24.7%, and futures volume climbed 252% to $2.63 billion. This combination often indicates traders are preparing for significant price moves, rather than merely closing positions.
Whale Wallets Expand LINK Holdings
Data from Santiment highlights a notable rise in LINK accumulation by whale investors. Wallets holding between 100,000 and 1 million LINK tokens increased their holdings by 4.2% in August, collectively adding 0.67% of LINK’s total supply. This accumulation aligns with major network developments that have strengthened Chainlink’s ecosystem.
Key milestones include the Aug. 4 launch of Data Streams for U.S. stocks and ETFs, allowing tokenized real-world asset markets to access real-time data. This service has attracted adoption by protocols such as GMX and Kamino Finance. On Aug. 7, Chainlink introduced the Chainlink Reserve—an on-chain LINK fund designed to support network growth and incentivize node operators. The same day, Chainlink’s Cross-Chain Interoperability Protocol was utilized in Brazil’s Drex CBDC pilot, connecting with foreign central banks in a trade finance trial involving Banco Inter, Microsoft, and 7COMm.
Chainlink (LINK) Technical Indicators Signal Potential Upside
Technical analysis points to a bullish outlook for LINK. Major moving averages from 10-day to 200-day periods remain in buy territory, supporting the uptrend. The Relative Strength Index (RSI) sits at 61, indicating room for further price appreciation before reaching overbought levels.
Additional momentum indicators, including the Awesome Oscillator, confirm ongoing buying pressure. The next resistance level is expected between $20.50 and $21, contingent on continued whale accumulation and a breakthrough above $19.16. On the downside, failure to sustain prices above the mid-Bollinger Band near $18 could trigger a retest of support in the $17.20–$17.50 zone, especially if leveraged long positions in derivatives unwind.
Key Highlights:
- LINK price up 36% in 30 days, trading near $18.89
- Spot volume rose 300%, futures volume jumped 252%
- Whale wallets added 0.67% of total supply in August
- New data services and Chainlink Reserve boost network
- Technical signals show bullish momentum with support near $18
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