In today’s Chainlink news, a wallet linked to the Dutch exchange Bitvavo transferred 3.89 million LINK tokens (approximately $32.59 million) from Coinbase Prime to a previously inactive address without a prior transaction.
LINK is trading at around $8.33, down a modest -0.5% in the last 24 hours, with a seven-day gain of almost 5%. Inactive receiving wallet suggests potential cold storage or pre-staking setup.
Bitvavo (@bitvavocom) withdrew $3.89 million LINK (~$32.59) from Coinbase prime to a new wallet
Address: 0x638c52e3348C5100bba8CF14E4512A168fE47213 pic.twitter.com/KChlqRQzh6
– Onchain Lens (@OnchainLens) July 20, 2026
Despite the significant drawdown, this did not result in an increase in LINK trading volume, indicating an intention to hold rather than sell. Daily trading volume for LINK stands at $153 million, according to CoinGecko data.
The move coincides with increased institutional interest in Chainlink’s Cross-Chain Interoperability Protocol (CCIP), raising questions about its importance in the market.
Chainlink News: Can LINK Price Surpass $9 This Week as Accumulation Signals Develop?
Issue of Monday’s charter report in @Recherchecrypto:
As seen on Monday in the chart report, Chainlink $LINK has just given its 2nd early oversold signal in 4 years.
Last time, this signal marked an area near the 2022 low.
I think a… pic.twitter.com/E8XzrUzFG8
– Paul Cryptoformation (@Paul_Theway) July 18, 2026
CoinGecko pegs LINK at $8.34, down about -0.50% on the day, but showing a net gain of +5.00% over seven days, a divergence from the flat-to-negative weekly performance seen across much of the altcoin market.
Support is established at the $7.80-$8.00 band, where buyers have stepped in during the last two pullbacks. Resistance lies between $9.00 and $9.50, an area matching previous local highs. LINK has not closed a daily candle above $9 in recent weeks, making this level the functional cap until buyers produce a volume-backed breakout.
Three scenarios frame the short-term path:
Case of the bull: Bitvavo’s withdrawal and any subsequent institutional flows reduce circulating supply on exchanges, tightening liquidity slightly and pushing the price towards the $9 resistance test, achievable if overall market sentiment strengthens.
Reference case: LINK is consolidating in the $8.00-$8.80 corridor, digesting on-chain news without a directional catalyst to force a breakout.
Bear case: A deterioration in broader risk appetite sends LINK back towards the $7.40-$7.60 range, where the realized P&L for recent buyers would start to turn negative. A $10 recovery remains the long-term technical thesis that most analysts are watching.
Bitcoin Hyper targets early positioning as LINK consolidates below key resistance
With the recent drop in Chainlink news, LINK’s +5% weekly gain is real, but the math for a large-cap asset to reclaim a significant multiple from current levels is structurally limited; going from $8.33 to, say, $25 would require a return to late 2021 conditions. That’s the cap problem for established tokens that early-stage projects don’t share, at least on paper.
Bitcoin Hyper ($HYPER) is a Bitcoin Layer 2 presale that is positioned around a specific technical claim: the first Bitcoin L2 to integrate the Solana Virtual Machine (SVM), targeting sub-second finality and smart contract throughput that the base Bitcoin layer structurally cannot provide.
The project has raised $32,973,148.62 at the current token price of $0.0136834, with a live staking mechanism during the presale window. Features include a decentralized canonical bridge for BTC transfers and low-latency transaction execution; The infrastructure is betting on Bitcoin’s lack of programmability.
Visit the Bitcoin Hyper presale website here.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article is intended to provide accurate and current information, but should not be considered financial or investment advice. Because market conditions can change quickly, we encourage you to verify the information for yourself and consult a professional before making any decisions based on this content.
Daniel Frances is a technical writer and Web3 educator specializing in macroeconomics and DeFi mechanics. Hailing from crypto since 2017, Daniel leverages his experience in on-chain analytics to write evidence-based reports and in-depth guides. He holds certifications from the Blockchain Council and is dedicated to providing “insight gain” that overcomes market hype to find real utility for blockchain.
