Chainlink’s price recently surged past $24, marking its highest level since early February and sparking fresh excitement among investors. Data from Santiment shows that this jump was fueled by two key trends: a spike in whale transactions and a drop in exchange balances.
Over the past five days, daily whale transactions — trades worth $100,000 or more — soared to around 713. Such activity usually signals growing confidence from large investors, as significant buying often points to a bullish outlook. At the same time, the amount of LINK held on exchanges fell by about 10%, suggesting many holders are moving their tokens into private wallets. This typically reduces selling pressure and supports price growth.
Whales play a big role in shaping LINK’s market direction. When they accumulate, available supply shrinks, helping to push prices higher. The current wave of accumulation suggests these major players see strong potential for further gains.
Breaking past $24 is more than just a psychological milestone — it’s a sign of a possible technical breakout. With supply on exchanges shrinking and whale confidence rising, the market structure for LINK looks solid. Chainlink’s core utility as the leading decentralized oracle network, bridging real-world data with blockchain applications, only strengthens its long-term case.
The recent performance hints that LINK could be on the path to new highs if market conditions stay supportive. Its role in powering smart contract connectivity makes it one of the most important players in the crypto ecosystem, and this latest rally underlines that status.
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