Quick Overview LINK has climbed 4% to $8.74, posting approximately 7% gains over the past week Large wallet transactions reached a 5-month peak with 246 transfers exceeding $100,000 recorded
Chainlink (LINK) has captured renewed market interest following a significant spike in whale transactions and a technical breakout that market participants have anticipated for several months.
The token registered a 4% increase, currently trading near $8.74, which extends its weekly performance to approximately 7%. This positions LINK among the stronger performers in today’s cryptocurrency landscape.
[[IMG_4]] Chainlink (LINK) PriceTrading above the crucial $8 support zone, the token maintains a constructive near-term outlook.
According to metrics from Santiment, Chainlink witnessed 246 individual transfers valued above $100,000 within a 24-hour window. This represents the highest single-day whale transaction count observed in the past five months.
Live Chart: https://t.co/5wlYZ9x9jz
Chainlink whale activity has seen a significant spike. The network saw 246 separate $100K+ LINK transactions in 24 hours, its highest daily level in 5 months.
This coincides with the fact that wallets holding 100K to 10M LINK now… pic.twitter.com/1EACyuTF1O
— Santiment Intelligence (@SantimentData) August 12, 2026
Address clusters containing between 100,000 and 10 million LINK tokens now possess 466.31 million units. This concentration represents 46.57% of the overall circulating supply.
Historical patterns indicate these substantial holders tend to accumulate or distribute around significant price movements, making current activity levels particularly noteworthy.
Market analyst Michaël van de Poppe weighed in on LINK’s technical structure, observing that it continues establishing higher highs and higher lows versus Bitcoin. He emphasized the upward momentum appears sustainable and suggested LINK remains undervalued relative to its fundamentals.
Very solid chart on $LINK as it starts to make new higher highs and higher lows vs $BTC.
This is not stopping soon, the train has just started.
Very pleased to see the strength, as I think that $LINK should be valued significantly more. pic.twitter.com/skfqYfTVJW
— Michaël van de Poppe (@CryptoMichNL) August 12, 2026
A significant technical development occurred on August 11 when LINK penetrated a several-month descending trendline that had constrained price action since early 2026. Starting the year at $12.20, the token spent seven months carving out a series of declining peaks and troughs.
The annual bottom formed at $6.996 on June 6, marking the launch point for the current recovery phase.
The immediate resistance barrier stands at $10.87. This level represents the defended high that characterized LINK’s accumulation phase.
Successfully clearing this threshold would position the token for a potential challenge of the year-to-date peak at $12.20. Should current support fail, LINK may retreat toward $8.50 or potentially $8.30.
The Relative Strength Index currently reads 69, approaching overbought territory. Meanwhile, the Chaikin Money Flow indicator shows 0.24, reflecting robust capital accumulation.
Derivatives market data confirms strengthening interest. Volume expanded 52.33% to reach $524.77 million, while open interest increased 13.21% to settle at $540.34 million.
Standard Chartered Bank has published a $200 price projection for LINK by 2030, positioning Chainlink as fundamental infrastructure supporting an anticipated $4 trillion tokenization market by 2028.
Current network statistics show Chainlink has processed over $33 trillion in cumulative transaction value as of August 2026, while securing more than $48 billion in total value locked across its ecosystem.
The post Chainlink (LINK) Sees Massive Whale Surge: 5-Month Peak Signals Bullish Momentum appeared first on Blockonomi.
