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6d ago

Chainlink Faces Mixed Signals After $20 Million in Whale Withdrawals

Price holds near $12.6 with trackers split between outflow strength and a potential bearish setup.

Chainlink: Can $19 mln in whale buys help LINK break out?
Chainlink price forms bearish double top as whales sell, risks over 50% drop

Overview

  • Lookonchain, citing Arkham data, reported 11 newly created wallets withdrew 1.567 million LINK worth about $19.8–$20 million from Binance over three days.
  • CryptoQuant indicators showed seven days of large spot order sizes and three consecutive days of negative exchange netflow, with netflow at -384,900 LINK.
  • Onchain Lens flagged a buyer who took 360,551 LINK from Binance on Dec. 22 and now holds 806,327 LINK valued around $10.17 million.
  • Nansen data highlighted by crypto.news showed a 2% drop in whale-held LINK over the past week and a 2.7% rise in exchange balances to 226.73 million tokens.
  • Analysts noted LINK trading around $12.5–$12.7 within a broader downtrend, with some warning a weekly double-top near an $11.08 neckline could open downside if breached as DeFi TVL and fees tracked by DefiLlama have fallen.