Chainlink's LINK surges 5.41% as whale activity spikes amid market slump

Chainlink's (LINK) price has climbed for three days straight, reaching $9—a 5.41% jump in the last 24 hours. Despite a weekly drop of 3.86%, recent activity suggests growing interest from major investors during the broader market slump. The upward trend began on March 30, with LINK steadily gaining momentum. Data from CryptoQuant shows a surge in whale transactions, hinting at deliberate moves by large holders.

Two significant withdrawals of 8,000 LINK tokens each left Binance, ranking among the day's top 10 outflows. Such transfers often signal a shift toward cold storage, where tokens are held long-term rather than traded.

Meanwhile, the number of mid-to-large wallets holding at least 1,000 LINK tokens has hit a 2026 high of 25,420. This rise in accumulation suggests confidence among bigger players, even as the wider market faces uncertainty. LINK's price now stands at $9, marking a third consecutive day of gains. The increase in whale activity and wallet growth points to strategic positioning by major holders. Whether this signals a longer-term shift remains to be seen.