Chainlink (LINK) whales are moving in their highest activity in 14 months, perhaps hinting at a big movement for LINK price. Large transactions have increased significantly, with these reaching levels not seen in over a year, suggesting that whales might be making moves. According to the on-chain analytics platform Santiment, 1,659 daily whale transactions is the largest since 2023. The coin’s 9,531 active wallets is also the most in 4 weeks.
Notably, 1,659 transactions of over $100,000 LINK were recorded in a 24-hour timeframe, which is the most for Chainlink since Dec. 6, 2023. A total of 9,531 unique active link addresses is also the most since Dec. 11, 2024. Investors are still mostly bullish on LINK, and several analysts are noting indicators of a bullish rally coming, such as these whale movements.
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Chainlink’s LINK is down major in the past week, falling nearly 20%. This dip has created an opportunity for whales and smaller investors to buy the dip. LINK is consolidating between its daily MA 50 and 200, at $22.76 and $15.88, respectively. However, a move triggered by this whale surge could send LINK up.
Crypto price prediction platform CoinCodex has high hopes for LINK in February. Indeed, they project the asset to reach a monthly high above the $32 mark, up 27% from its current price. However, that may just be the beginning. If the token can overcome the $25 resistance level, analysts are expecting the asset to potentially reach a $41 price just a month later. Continued bullish sentiment would see it surge to $48 in May. That mark would be a 2025 high, and see it jump 88% from its current position.