In what is a rather surprising development for the cryptocurrency, Chainlink whale activity has reached its highest level in two years, which could have massive implications for LINK. Indeed, the token sought to reverse an ongoing decline Friday, with the entire cryptocurrency market in flux.
Whale activity indicates holders with large stashes of one cryptocurrency to be active. The data is indicative of a myriad of factors but is often perceived as a good thing for these tokens. Is that the case for LINK? More importantly, can it help propel Chainlink back to $20?
Also Read: Chainlink Prediction: LINK May Break Through $32 This Month
Chainlink Whales Most Active Since 2023: Can It Help Propel LINK?
Entering 2025, there were few cryptocurrencies that had the kind of potential that Chianlink had. The project was a key part of the ongoing tokenization efforts, partnering with firms like JPMorgan and BNY Mellon. Moreover, it was one of a handful of tokens snatched up by US President Donald Trump’s World Liberty Financial (WLFI).
That has all set the stage for a massive year. However, with geopolitical tensions rising, the cryptocurrency market has failed to make good on positive sentiment and sky-high expectations. That may be changing. Indeed, Chainlink has seen its whale activity reach the highest level in two years, as LINK could benefit.
🔗🐳 With crypto taking a swing back down, Chainlink has stood out as a network with heavy key stakeholder dip buying. 1,659 daily $100K+ $LINK transactions is the most since 2023, and 9,531 active wallets is the most in 4 weeks. When altcoins rebound, keep an eye on this asset. pic.twitter.com/GUjHJALLV3
— Santiment (@santimentfeed) February 4, 2025
Also Read: Chainlink to $60? LINK Predicted to Skyrocket in 2025 Bull Market
Specifically, the Whale Transaction Count for Chainlink had surged to its highest ark since 2023, according to Santiment data. That indicates that holders with more than $100,000 in LINK are making increased moves on the network. It appeared to be impacting the token already.
As of Friday, LINK had dropped more than 26%, according to CoinMarketCap. However, LINK had reversed that to end the week, trading up 0.93% as it looked to regain the $19 mark. However, that doesn’t change that the token has plummeted more than 40% from its 2025 high thus far.
That it’s widely expected to change, however. Indeed, cryptocurrency price prediction platform CoinCodex projects LINK to return to a price as high as $26 in February. Moreover, it expects an 83% jump to take place in two months, with Chainlink reaching a price of $34.
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