TLDR
- Thirty wallets accumulated $116.7 million worth of Chainlink from Binance.
- On-chain data confirms heavy LINK withdrawals after the October crash.
- LINK price is holding firm above the $16.80 support zone.
- Analysts highlight $17.50 as a key breakout confirmation level.
Lookonchain has reported a large-scale Chainlink (LINK) accumulation event following the October 11 market crash. According to the firm’s on-chain data, 30 newly activated wallets have withdrawn 6,256,893 LINK, valued at approximately $116.7 million, from Binance since the correction.
This large transfer activity suggests aggressive buying interest during the recent dip, potentially from institutional or high-net-worth participants.
The withdrawals occurred in multiple batches, with the largest transaction belonging to a single address which withdrew 1,342,561 LINK worth $25 million. Several other wallets moved between 200,000 and 300,000 LINK each, with transaction values ranging from $4 million to $6 million per address. The timing of these movements, closely following the October 11 price decline, underscores a concerted effort to accumulate LINK during lower valuations.
The dataset compiled by Lookonchain highlights a consistent pattern of large-scale purchases. Other wallets also withdrew 308,000 LINK ($5.75 million) and 271,000 LINK ($5.06 million) respectively. The analysis indicates that none of these addresses held prior significant LINK balances, implying they were newly created for accumulation or cold storage.
The aggregated data places the average withdrawal per wallet at around 208,000 LINK, or roughly $3.8 million, reinforcing the presence of high-value investors. These actions reflect strategic positioning during a market downturn, typically associated with long-term accumulation behavior.
Chainlink Price Structure Holds Above Key Bull-Bear Zone
Looking at weekly Chainlink price charts from analyst data, we see that Chainlink remains positioned above the critical bull-bear threshold, defined around $16.00–$16.80. This area has historically acted as a decisive mid-cycle pivot, marking shifts between bearish retracements and bullish continuations.
1-week LINK/USDT Chart | Source: X
Since early 2023, LINK has tested this zone multiple times, first reclaiming it in June 2023 and again in February 2024 after a brief correction. The latest retest in October 2025 has so far held firm, aligning closely with the recent surge in accumulation. This confluence between on-chain inflows and price-level support indicates renewed buying strength near long-term equilibrium.
The Chainlink price currently trades around $18.80, as shown on Bitget data, consolidating above the 50-week moving average. The chart identifies the zone between $16.00 and $18.50 as a key structural support area. The area stands as a region that has repeatedly defined whether LINK sustains bullish momentum or reverts lower.
Chainlink Price Retesting $17.5 Resistance Level
Short-term analyst charts show that LINK has broken out of its short-term bearish trendline, signaling the potential end of a minor corrective phase. However, the price remains just below the weekly key resistance at $17.5, a critical area for confirming directional bias.
The analyst emphasized that a clean close above $17.5 could pave the way for a retest of the $20.00 zone, while maintaining support near $16.70 would be essential for continued strength. Recent candles show consolidation within a tight range between $16.7 and $17.4, mirroring the accumulation trend seen on-chain.
This alignment between technical structure and wallet activity implies that accumulation began during the market’s local bottom formation around October 11–13, when LINK dipped to the mid-$16 range. The price has since stabilized above this zone, with visible attempts to reclaim prior resistance levels.
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