Key Insights:
- Chainlink price holds around $18, tracking global liquidity trends.
- Whales move 9.94 million Chainlink worth $188 million from Binance.
- Chainlink’s CCIP transfer volume shows steady growth.
Chainlink (LINK) has seen major whale activity after the October 11 market crash.
About $188 million worth of LINK was recently withdrawn from Binance, showing renewed buying by large investors.
The move comes as the Chainlink price holds near $18 and network activity continues to grow.
LINK Whales Move Nearly $188 Million in Chainlink
It is worth noting that after the October 11 market crash, large Chainlink holders began moving tokens off exchanges.
Data shows that 39 new wallets withdrew about 9.94 million LINK from Binance, worth roughly $188 million.
Notably, this shows that big investors are once again buying and holding LINK, likely expecting a long-term rise.
Analyst Ali Martinez shared that Chainlink could see a major move in the coming months.
He disclosed that the price may drop toward $15 before climbing as high as $46.31.
Similarly, his analysis points to an inverse head-and-shoulders pattern on the chart, which often signals a change toward a stronger market.
Chainlink’s Strategic Reserves Program also plays a role in market confidence. The project, launched in August, uses network revenue to buy back LINK.
So far, about 585,000 tokens worth $10.4 million have been added to the reserve. Each buyback reduces the number of tokens in circulation and supports long-term value.
At the same time, exchange balances continue to fall as more investors move their holdings to private wallets.
This pattern often suggests that holders are planning to keep their tokens rather than sell.
It is important to add that combined with rising network activity, market participants see these moves as signs of quiet accumulation before a possible breakout.
Chainlink’s CCIP Activity Keeps Growing
Chainlink’s Cross-Chain Interoperability Protocol (CCIP) is recording steady growth.
The total transfer volume has been rising quickly, and daily transactions are increasing.
Analysts describe the pattern as an early growth curve, showing that more users and projects are starting to use the protocol.
The steady rise in CCIP transfers points to stronger demand for Chainlink’s technology.
Notably, as developers adopt the system, its use across different blockchains expands.
This could help increase real-world use of the LINK token since CCIP plays a key role in enabling connections between networks.
Observers also note that the pace of growth has become sharper in recent weeks.
While the cumulative chart always moves upward, the steeper slope shows faster expansion and growing activity within the Chainlink ecosystem.
Chainlink Price Follows Global Liquidity Trends
A recent chart from Bull Bear Spot compares Chainlink’s price with the global M2 money supply.
It suggests that LINK price movements often mirror changes in global liquidity. When liquidity increases, asset prices, including cryptocurrencies, tend to rise.
At present, Chainlink price trades near $18.16 after gaining 0.78% in the last day. The price has remained steady despite earlier volatility in the market.
Analysts believe that this stability, along with increased whale activity, may point to growing confidence among investors.
Chainlink’s current position reflects a mix of factors. Whale accumulation shows renewed interest from major holders.
The reserves program helps reduce supply, and current CCIP activity highlights broader adoption.
Essentially, these trends could support a stronger market outlook if conditions remain favorable.
Even with the positive signs, analysts warn that the market can still change quickly.
LINK price swings are common in crypto, and wider economic shifts or policy updates could affect future trends. As of writing, the LINK price was trading at $18.50.
Still, for now, Chainlink’s outlook appears firm as interest continues to build from both investors and developers.
The post $188 Mn in Chainlink Exits Binance as LINK Whales Return, Chainlink Price Reacts appeared first on The Coin Republic.
