Whale Activity Spikes in Chainlink Amid Altcoin Weakness

CryptoQuant has identified a significant increase in large player activity in Chainlink (LINK) transactions, with withdrawals exceeding 8,000 LINK on peak days.

The average daily outflow among top 10 transactions rose from 2,000 to 2,600 LINK since mid-February, suggesting that whales may be moving assets into off-exchange custody.

While this behavior is typically associated with reduced selling pressure and a desire to hold the asset in the medium term, CryptoQuant cautions that it does not necessarily signal a change in trend. The analyst notes that other accumulation episodes during the correction have failed to shift the current market trend.