Key Highlights
- Chainlink’s price increased 4% to reach $8.74, marking approximately 7% in weekly gains
- Large wallet transactions exceeded a 5-month peak, recording 246 transfers above $100,000 within 24 hours
- Concentration among major holders has reached 46.57% of LINK’s circulating supply
- LINK successfully breached a prolonged downtrend on August 11, setting sights on $10.87 and $12.20 levels
- Derivatives market activity surged 52% to $524.77 million, with open interest climbing 13%
Chainlink (LINK) has captured renewed market interest following a significant increase in whale transactions and a decisive technical breakout that has eluded traders for several months.
The token posted a 4% gain, reaching approximately $8.74 in recent trading sessions. This performance extends LINK’s weekly advance to about 7%, positioning it as one of the stronger performers in the current cryptocurrency landscape.
The asset maintains its position above the critical $8 support zone, reinforcing a constructive near-term outlook.
Major Holders Increase Activity
According to metrics from Santiment, Chainlink registered 246 individual transactions valued above $100,000 during a 24-hour window. This figure represents the highest concentration of large-scale transfers observed over the past five months.
🔗 Live Chart: https://t.co/5wlYZ9x9jz
🐳 Chainlink whale activity has seen a significant spike. The network saw 246 separate $100K+ LINK transactions in 24 hours, its highest daily level in 5 months.
📈 This coincides with the fact that wallets holding 100K to 10M LINK now… pic.twitter.com/1EACyuTF1O
— Santiment Intelligence (@SantimentData) August 12, 2026
Addresses containing between 100,000 and 10 million LINK tokens collectively hold 466.31 million coins. This concentration represents 46.57% of the entire token circulation.
Historically, these substantial holders have demonstrated correlation with significant price movements, making the current accumulation pattern particularly noteworthy for market observers.
Market analyst Michaël van de Poppe provided commentary on LINK’s technical structure, noting the formation of consecutive higher highs and higher lows relative to Bitcoin. He emphasized that the momentum appears sustainable and suggested LINK remains undervalued at present levels.
Very solid chart on $LINK as it starts to make new higher highs and higher lows vs $BTC.
This is not stopping soon, the train has just started.
Very pleased to see the strength, as I think that $LINK should be valued significantly more. pic.twitter.com/skfqYfTVJW
— Michaël van de Poppe (@CryptoMichNL) August 12, 2026
The token decisively broke through a months-long descending trendline on August 11, a pattern that had constrained price action since early 2026. LINK began the calendar year trading at $12.20 before establishing a series of declining peaks and troughs over seven months.
The yearly trough of $6.996 was established on June 6, initiating the current recovery trajectory.
Critical Resistance and Support Zones
The immediate resistance barrier is positioned at $10.87. This level previously functioned as a defended peak that characterized LINK’s base formation.
Successfully clearing that threshold would open the pathway for testing the 2026 high at $12.20. Should current support fail, LINK could retreat toward $8.50 or the $8.30 zone.
The Relative Strength Index currently registers at 69, approaching overbought territory. Meanwhile, the Chaikin Money Flow indicator stands at 0.24, signaling robust capital accumulation.
Derivatives market data corroborates the bullish momentum. Trading volume expanded 52.33% to reach $524.77 million, while open interest increased 13.21% to $540.34 million.
Standard Chartered Bank has projected a $200 price target for LINK by 2030, positioning Chainlink as fundamental infrastructure supporting an anticipated $4 trillion tokenization market expected to materialize by 2028.
Current network statistics as of August 2026 show Chainlink has processed over $33 trillion in cumulative transaction value while securing more than $48 billion in total value locked across its ecosystem.
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