Large Chainlink (LINK) investors, often called ‘whales,’ are buying more of the token as it tries to bounce back from recent market drops. These major holders have purchased over 14 million LINK tokens in the past month.
Summary
- Chainlink whales accumulated over 14 million LINK as large transactions increased sharply during recent weeks.
- LINK trades near $8.54, with improving RSI and MACD signals supporting its latest recovery attempt.
- Falling exchange reserves reduce available selling supply, though LINK must reclaim $9–$10 for stronger momentum.
At the time of this report, LINK was trading around $8.54, a slight decrease of 0.6% over the last day. Its total market value was approximately $6.39 billion, with $175.24 million worth of LINK traded in the past 24 hours. Crypto.news data shows the price fluctuated between $8.53 and $8.72 during that period.
Chainlink whale activity rises as large holders accumulate LINK
Crypto analyst Ali Martinez recently noticed a significant increase in activity from large Chainlink holders, often called ‘whales’. Over the past two weeks, there were more than 20 Chainlink transactions each worth over $1 million, suggesting growing confidence and investment in the cryptocurrency.
Recent data from an analyst indicates that major LINK holders have been steadily buying the token. Over the past month, they’ve added over 14 million LINK to their holdings, increasing their total from under 170 million to approximately 182-183 million tokens.
When large token holders (often called ‘whales’) simply hold onto their coins instead of selling them on exchanges, it decreases the amount available for trading. However, this doesn’t automatically mean the price will go up.
Over the last three weeks, large cryptocurrency investors – known as whales – have bought more than 14 million Chainlink (LINK) tokens. This significant increase in holdings by major players often suggests growing optimism about the token’s future and is something to watch.
— Ali Charts (@alicharts) July 23, 2026
Recent activity shows continued growth within the Chainlink network. The number of wallets holding over 1,000 LINK tokens has increased this year, reaching its highest point so far. Similarly, the count of addresses with at least 100,000 LINK also hit a new high of 805.
LINK price shows short-term recovery signals
Looking at the daily price chart, LINK has been generally declining after reaching a high of around $26 to $28. Over the past few months, the price has mostly fluctuated between $7 and $10, with buyers and sellers battling for control near the lower end of this range.
Recent technical signals are looking more positive. The MACD is trending upwards, currently at 0.1866 compared to its signal line of 0.1267, indicating growing momentum. Additionally, the relative strength index (RSI) is at 60.43, which suggests increasing strength as it’s above both the 50 neutral point and its average around 58.31.
Based on recent data, buyers are starting to influence the market, but LINK hasn’t become overvalued yet. The price is currently struggling to break through the $9 to $10 range. If it can consistently move above that level, it suggests a stronger recovery is underway. However, if it fails to break through, LINK will likely continue trading within its current price range.
The price of LINK recently increased, much like before, after Mantle transferred its $2.5 billion Super Portal to Chainlink’s technology for connecting different blockchains.
Falling exchange reserves tighten available LINK supply
Data from CryptoQuant shows that the amount of LINK held in Chainlink exchanges is decreasing. Currently at around 125.4 million LINK, this is down from the typical range of 165 to 190 million seen earlier in 2024 and 2025.
When exchange balances drop, there are usually fewer tokens available to sell quickly. But just because reserves are going down doesn’t automatically mean more people are buying. LINK’s price is still near its lowest point in several years, so we need to see clear signs of increased buying to expect a price increase.
Trading data from derivatives markets is showing conflicting signals. While trading volume increased slightly, by 1.95% to around $233.74 million, open interest—the total value of leveraged positions—decreased by 0.91% to about $445.28 million. This suggests that more people are trading, but without a corresponding rise in risky, leveraged bets.
Chainlink’s supply has tightened up like this in the past. Typically, when fewer LINK tokens are held on exchanges and large investors start buying, it suggests the price might go up. However, a price increase doesn’t always happen right away.
Chainlink ecosystem activity supports the broader market case
Even though the price of LINK hasn’t seen strong long-term gains, Chainlink is still a major player in building blockchain infrastructure. Recent data from Santiment shows Chainlink is a leader in real-world asset projects, with its development activity rivaling that of Hedera.
Here’s a look at the leading crypto projects focused on Real World Assets (RWAs), ranked by their progress. The arrows show whether each project has moved up, down, or stayed the same in ranking compared to last month:
1) Hedera ($HBAR) – Top spot 🥇
2) Chainlink ($LINK) – Second place 🥈
3) Avalanche ($AVAX) – Third place 🥉
4) Stellar ($XLM) – Ranking increased 📈
5) OriginTrail ($TRAC) – Ranking decreased 📉
6) …— Santiment Intelligence (@SantimentData) July 22, 2026
As a researcher tracking the Chainlink ecosystem, I’ve observed continued growth in its institutional adoption. Recently, Mantle moved its $2.5 billion Super Portal over to Chainlink’s CCIP, and Aave chose Chainlink’s technology to automate the rebalancing of its vaults. What’s also encouraging is the increasing community support – we’ve now surpassed 900,000 Ethereum wallets holding LINK.
U.S. investors can now trade Chainlink on regulated exchanges. Data from SoSoValue shows that Chainlink ETFs in the U.S. saw $2.68 million in new investments on July 22nd, bringing the total net inflows to $127.83 million.
Trading totaled $2.99 million today, and net assets currently amount to $114.78 million. A U.S. exchange-traded fund (ETF) for Chainlink was approved to begin trading on NYSE Arca in December 2025, making it easier for institutions to invest in the asset.
While some experts predict significant growth, particularly with ongoing demand for crypto ETFs, Chainlink (LINK) could potentially reach $50 to $100 in a future bull market, according to Crypto Patel. It’s important to remember these are just forecasts, not guaranteed prices.
2026-07-23 11:30