The crypto market is watching Chainlink ($LINK) closely after popular on-chain analyst Ali Martinez tweeted that whale activity around the oracle token has surged to its highest level in seven months. The move, visible in Martinez’s charts and amplified by Santiment’s on-chain dashboard, comes as LINK trades near mid-$20s and investors debate whether large holders are quietly accumulating or preparing to cash out.
Santiment’s analytics show a sharp uptick in both whale transactions (transfers over $100,000) and active addresses. The platform reported roughly 4,624 whale transactions, a seven-month peak, and 6,463 active LINK addresses, an eight-month high, metrics that often accompany big moves in price as liquidity shifts from exchanges to long-term storage or vice versa. Santiment also noted that social sentiment around LINK turned more bullish, with bullish comments outnumbering bearish ones by a notable margin.
At the time of writing, Chainlink is trading around $25.40, having rallied from lower levels over the past few weeks as on-chain activity picked up. The token’s short-term swing has pushed it above resistance zones that analysts have watched since spring. That recent price datapoint is consistent across major trackers.
What the Whales Could Mean for the Price
Large transfers on their own don’t guarantee a sustained rally; they can represent accumulation (withdrawals to cold storage) or positioning before a dump (deposits to exchanges). Martinez’s feed and several market writeups point to roughly 2 million LINK withdrawn from exchanges in a 48-hour window during the spike, which many interpret as reduced exchange sell pressure and a bullish signal.
At the same time, Santiment recorded falling exchange supply and rising active addresses, both data points that historically help lift price when demand remains steady. Technically, analysts are looking at $24 as a key near-term resistance level: a clean break and hold above that zone has been described as the trigger for an extended leg higher.
Traders like Ali Martinez and others have outlined multi-stage targets, the immediate upside being roughly $29–$32, with more ambitious extensions at $46 and higher if momentum and liquidity conditions persist. Conversely, several analysts warn that a failure to hold mid-$20s support could see LINK retest lower support bands around the low $20s or high teens.
Martinez’s observation has lit a fuse under a narrative that was already building around on-chain growth and renewed interest in Chainlink. The combination of reduced exchange supply, rising active addresses and stronger social sentiment creates a favorable backdrop for it. However, the next several days of on-chain flows and whether LINK can hold above $24 will be crucial signals for whether this is a healthy accumulation phase or a short-lived spike.
