Chainlink (LINK) whales have withdrawn hundreds of thousands of tokens from Binance, suggesting increased accumulation amid price stagnation.
By Parth Dubey
Updated
3 mins read
Blockchain analysis platform Lookonchain reported that multiple fresh wallets have withdrawn large amounts of Chainlink LINK $12.63 24h volatility: 4.1% Market cap: $8.05 B Vol. 24h: $334.72 M from leading digital asset trading platform Binance, raising speculations of potential accumulation.
The massive transfers coincide with the recent unlocking of 14.875 million LINK, worth approximately $216 million.
The #Chainlink non-circulating supply wallet unlocked and deposited 14.875M $LINK($216M) to #Binance again today.
Before this, #Chainlink had unlocked 10 times in total, and 9 of them saw price increases 30 days after unlocking.https://t.co/edlAW6psdb pic.twitter.com/Hjzqac4XzU
— Lookonchain (@lookonchain) March 15, 2025
Historically, Chainlink’s non-circulating supply wallet has unlocked tokens ten times and nine out of these ten times, the price of the 13th-largest cryptocurrency has skyrocketed within 30 days.
One wallet moved almost 70,000 LINK while another transferred a massive 84,000 LINK. The least was around 47,000 LINK tokens.
We’ve noticed multiple fresh wallets withdrawing large amounts of $LINK from #Binance.
This could be linked to the recent unlocking of 14.875M $LINK ($216M).https://t.co/i3rVb45iAB pic.twitter.com/GBBPwWvMLk
— Lookonchain (@lookonchain) March 17, 2025
Amid these wallet transfers, Chainlink announced new integrations of its standard across different blockchain networks and services.
⬡ Chainlink Adoption Update ⬡
There were 11 integrations of the Chainlink standard across 4 services and 12 different chains: Base, BNB Chain, Ethereum, Fraxtal, HashKey Chain, JANCTION, Lisk, Mode, Optimism, Polygon, Soneium, and Unichain.
New integrations include @AITECHio,… pic.twitter.com/ppO0VGcOuh
— Chainlink (@chainlink) March 16, 2025
The new integrations involve multiple blockchains and services, including Solidus Ai Tech (AITECH), HashKey Group, Janction, Jasmy, OpenEden, OpenUSDT, Soil (SOIL), and Swarm Markets.
In a recent interview on The Wolf of All Streets podcast, Chainlink co-founder Sergey Nazarov highlighted Chainlink’s pivotal role under the pro-crypto administration of Donald Trump.
Chainlink powers a significant portion of DeFi, facilitating data feeds, proof-of-reserve mechanisms, and compliance automation, Nazarov noted.
He suggested that Chainlink’s infrastructure is critical for ensuring reliability, security, and efficiency in asset tokenization, thereby driving institutional and global adoption of blockchain-based finance.
The entrepreneur said that Chainlink’s role “boils down to low transaction costs which basically boils down to automation of compliance,” which is what Chainlink is now in the process of providing.
The Bollinger Bands (BB) indicate that LINK is trading near the lower band at $12, with the mid-band at $14.61 and the upper band at $17.23, posing as resistances.
The current price of $13.74 suggests LINK is in a potential accumulation phase, with support at $12. The Relative Strength Index (RSI) stands at 41.76, which indicates bearish-to-neutral momentum. The gradient of the line indicates a rebound from bearish levels.
Finally, the 20-day EMA is positioned at $14.73, slightly above the current price of $13.74. A breakout above $14.73 could signal renewed bullish momentum. If LINK turns the 20-day EMA into support, the next key resistance to watch is $17.23.
Conversely, failure to hold the $12 support could lead to a deeper correction, possibly testing psychological support at $10.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.