LINK Surges Over 10% Today! Whales Accumulate More Than 6 Million LINK
Source Tradingkey
TradingKey – Aggressive buying by whales and institutions fuels LINK’s sustained rebound, with further upside likely.
On Monday, during U.S. pre-market hours, Chainlink (LINK) — the leading oracle protocol—jumped 11%, outperforming most major cryptocurrencies on strong buying momentum.
Top Gainers in Crypto – Source: CoinMarketCap.
According to monitoring data from Lookonchain, since the October 11 market crash:
- A total of 30 newly created wallets have withdrawn over 625,000 LINK from Binance, worth approximately $116.7 million
- This significantly reduced sell-side pressure and signaled strategic accumulation
Institutional Support
Public companies continue to absorb market sell-offs:
- Nasdaq-listed Caliber recently announced a $2 million purchase of over 90,000 LINK tokens
- The firm now holds more than 560,000 LINK, sending a strong bullish signal to the market
Technical Setup and Macro Tailwinds
- On November 16, LINK retested support near $15, then began a sharp rebound
- Over the past three days, LINK has surged 26%, now facing short-term resistance around $20
- With Federal Reserve rate cut expectations rising, investor confidence is gradually recovering. October could see LINK break through resistance and extend its rally
LINK Price Chart – Source: TradingView
LINK’s rally is backed by whale accumulation, institutional buying, and improving macro sentiment. If momentum continues and the Fed delivers on rate cuts, LINK may break above $20 and enter a new bullish phase heading into November.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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