Chainlink Price Surges as Whale Activity and Record Wallet Growth Combine

Chainlink (LINK) has seen its price climb over 4% in recent days as investors return to large-cap altcoins. This move is backed by strong on-chain data, including record wallet growth and aggressive whale accumulation.

Fresh on-chain data reveals that a whale purchased approximately 273,793 LINK tokens worth nearly $2.17 million at an average price of around $7.94 over the past two days. This purchase occurred just minutes before the data surfaced, indicating continued accumulation rather than a one-off transaction.

Chainlink's network fundamentals continue to strengthen, despite months of muted price action. The number of non-empty LINK wallets has surpassed 900,000 for the first time, setting a new all-time high. Over 20,000 new wallets have been added over the past month even as LINK traded near local lows.

Historically, declining exchange balances are viewed as a sign of reduced near-term selling pressure. Chainlink holders have hit a record while the price lags, suggesting long-term investors have continued accumulating throughout the correction.