On-chain analytics firm Santiment says Chainlink’s biggest holders are back to buying. Santiment tracked the 100 largest LINK wallets — the network’s top whales — and found that after a wave of distribution in October, these addresses began accumulating again at the start of November. The cohort has added roughly 20.46 million LINK (about $263 million), not only undoing October’s drawdown but pushing their combined holdings to a higher level than before. Key points - Santiment defines “top addresses” as the 100 largest Chainlink wallets — the investors whose moves can materially affect supply dynamics. - October saw sustained selling from these whales, which began as LINK experienced a sharp price crash and continued until early November. - Since the start of November the group has flipped to net accumulation, adding ~20.46M LINK (~$263M). Most of that buying occurred in November; December buying has been muted so far. - The change in whale behavior could be an influential input for LINK’s next directional move, though pace and persistence of accumulation remain uncertain. Technical backdrop Separately, analyst Ali Martinez highlighted a bearish technical development: LINK recently broke a multi-year support trendline it had respected since 2023. The token tested that line twice in the first half of 2025 and found support, but the most recent retest failed, resulting in a breakdown. A subsequent attempt to reclaim the line from below was rejected, suggesting the old support may now be acting as resistance. Price snapshot - Chainlink is trading around $12.96 following the latest selloff. Why it matters Whale accumulation can tighten supply and dampen downward pressure, while a confirmed technical breakdown increases the odds of further weakness. Monitoring on-chain flows alongside price action — particularly whether the top 100 keep buying or return to selling — will be key for gauging LINK’s near-term trajectory. Read more AI-generated news on: undefined/news