Whales Bet Big on Chainlink With $188M in Post-Crash Buys

Whales are doubling down on Chainlink as the market starts to recover from the October 11 crash. According to data shared by on-chain tracker Lookonchain, large investors have accumulated nearly 9.94 million LINK tokens, worth $188 million. Directly from Binance in the past two weeks. This wave of accumulation has come from 39 new wallets. It signals renewed whale confidence in the decentralized oracle network’s long-term potential.

Massive Whale Accumulation Post-Market Crash

The October market crash triggered widespread panic selling across the crypto sector. But while retail traders pulled out, institutional players and whales seemed to take the opposite route, buying the dip. Lookonchain revealed that several new wallets began withdrawing large amounts of LINK from Binance shortly after the market downturn.

This accumulation began soon after October 11. When LINK briefly dipped alongside other major cryptos. Since then, 39 wallets have collectively withdrawn nearly 10 million LINK. This suggests a strong accumulation trend. Earlier data also showed 30 wallets withdrawing 6.25 million LINK, worth over $116 million. This highlights a continued pattern of large scale buying.

Wallet Data Highlights Strong Conviction

A closer look at the data reveals several high-value wallets making substantial purchases. For example, one wallet accumulated 1.61 million LINK, valued at $30.6 million. Another wallet withdrew 998,592 LINK, worth approximately $18.9 million. Dozens of other wallets collected between 150,000 and 300,000 LINK. It reflects a consistent pattern of confidence among top investors.

In total, the wallets analyzed by Lookonchain show combined holdings of 9,942,772 LINK. With a cumulative value exceeding $188 million. Such coordinated activity typically points to strategic accumulation rather than short term trading. It is often a bullish sign for mid term market sentiment.

Exchange Outflows Reflect Bullish Outlook

The steady outflow of LINK from Binance is often interpreted as a sign of growing investor confidence. When tokens move off exchanges and into private wallets. It usually means holders intend to store them long term rather than sell. This aligns with the broader narrative. That Chainlink is becoming a key infrastructure layer for DeFi. Including real-world asset tokenization and enterprise blockchain integrations.

Recent blockchain movements reinforce this sentiment. Within hours, multiple Binance hot wallets transferred hundreds of thousands of LINK to private addresses. Transactions included transfers worth $4.86 million, $4.32 million and several others in the $200,000-$400,000 range.

Chainlink’s Long-Term Strength

Chainlink growing adoption in cross-chain interoperability and oracle services has fueled renewed investor optimism. As the project continues expanding its partnerships and integrations. Whales appear to be positioning early for potential gains. While short-term volatility remains a risk, the scale of recent whale buying suggests a strong belief in Chainlink’s fundamentals. 

With nearly $188 million worth of LINK leaving Binance since the crash. Large investors seem convinced the token is undervalued and they’re backing that belief with serious capital. Chainlink performance in the coming months will reveal whether these whales made the right call. But one thing is clear: the smart money is betting big on LINK’s future.