Chainlink Whales Accumulate LINK Tokens Amidst Bear Market

The Chainlink ecosystem has witnessed a significant increase in whale wallets holding over 1 million LINK tokens, with a 25% growth in just one year. According to data shared by Santiment, the number of such wallets rose from 100 to 125 between April 2025 and April 2026.

This trend may be an indication that investors are accumulating LINK through the bear phase, which could become a catalyst for sharper price moves if market conditions improve. The combination of growing whale interest and a defined technical trigger level gives traders two things to monitor: on-chain behavior pointing to long-term confidence in the asset, and price structure demanding patience.

Crypto analyst CryptoWZRD noted that LINK's daily chart shows price action confined to a multi-month descending channel around the $8.60 level, with $9.55 being the key level to watch for a potential breakout. A daily close above this price would shift the outlook bullish and open the door to higher resistance zones.