Whales Withdraw Large Amounts of Chainlink (LINK) Following Adoption Update
Recent data from Lookonchain indicates significant withdrawals of Chainlink (LINK) from Binance, suggesting potential accumulation. This follows the unlocking of 14.875 million LINK, valued at approximately $216 million.
- Multiple wallets have withdrawn large amounts: one moved nearly 70,000 LINK, another 84,000 LINK, and the smallest was around 47,000 LINK.
- Historically, after ten unlocks from the non-circulating supply wallet, nine resulted in price increases within 30 days.
Chainlink Expands Adoption Across Blockchains
Chainlink has announced 11 new integrations across various blockchain networks, including Base, BNB Chain, Ethereum, and others. New partners include Solidus Ai Tech and HashKey Group.
Insights from Sergey Nazarov
In a recent podcast, co-founder Sergey Nazarov emphasized Chainlink's essential role in DeFi and its function in asset tokenization, stating it ensures reliability and efficiency in blockchain finance. He highlighted that low transaction costs stem from automated compliance processes.
LINK Price Analysis
Current analysis shows LINK trading near $13.74, close to the lower Bollinger Band at $12, with resistance levels at $14.61 and $17.23. The Relative Strength Index (RSI) is at 41.76, indicating a bearish-to-neutral trend. A breakout above the 20-day EMA at $14.73 may signal bullish momentum; failure to maintain support at $12 could lead to further declines toward $10.