Chainlink Whales Buy 1.5M LINK as Market Surges with Ecosystem Upgrades

Recent activity in the Chainlink (LINK) market has drawn attention as whales made substantial token purchases. 

On-chain data reveals that approximately 1.5 million LINK tokens were acquired by major investors within the last 24 hours. This buying spree coincides with a market rebound, prompting speculation about LINK’s next price moves.

The surge in whale accumulation has sparked optimism among traders. The token’s price traded at $21.73 at press time, reflecting a 6.64% increase over the past 24 hours. With a circulating supply of 630 million tokens, Chainlink’s market capitalization now stands at $13.7 billion.

Whales Buy Over 1.35 Million LINK Tokens Amid Key Price Levels

Crypto analyst Ali Martinez reported that Chainlink whales purchased over 1.35 million LINK tokens within a day. According to Santiment data cited by Martinez, these acquisitions occurred as LINK’s price hovered between $19 and $20.5. 

Many traders view this range as a crucial support zone for the token’s price.

The buying activity suggests growing interest among major investors in Chainlink’s potential. Market participants appear optimistic that this accumulation phase could positively influence the token’s price trajectory.

Ecosystem Developments Boost Market Sentiment

Chainlink’s bullish sentiment is supported by recent advancements in its ecosystem. The launch of the CCIP v1.5 upgrade on the mainnet introduces new features for developers. 

This update allows the deployment of Cross-Chain Tokens (CCTs) across more than 20 blockchains within minutes, streamlining token transfers.

Alongside the v1.5 upgrade, CCIP is expanding @circle’s Bridged USDC Standard to more chains.

CCIP will help increase access to bridged USDC to help prevent liquidity fragmentation and accelerate DeFi adoption across the multi-chain ecosystem.https://t.co/jeHZbT459W

— Chainlink (@chainlink) January 14, 2025

Additionally, Chainlink has partnered with Circle to expand its bridged USDC standard and collaborated with Ripple to integrate RLUSD stablecoins into DeFi markets. These developments indicate continued efforts to strengthen Chainlink’s presence in the blockchain ecosystem.

Futures Market Sees Rising Open Interest and Volume

Data from Coinglass shows that LINK’s futures trading volume surged by 38.07% to $970.83 million, while Open Interest climbed 11.04% to $936.28 million. This increase in activity reflects heightened trader participation and speculation in the futures market.

Historical trends highlight a sharp rise in LINK Futures Open Interest since late November, peaking above $900 million in early January. Sustained Open Interest levels above $800 million indicate ongoing market interest and potential price movements ahead.

With whales actively accumulating LINK and ecosystem upgrades enhancing utility, Chainlink continues to attract attention across spot and futures markets. Traders remain watchful of further developments in the token’s trajectory.

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