Key notes
- Top LINK whales have accumulated over $263 million in assets.
- Bybit users withdrew over 101,000 LINK while Binance saw inflows.
- TMF analyst says: “No catalyst is good enough in this market.”
Chain link
LINK
$12.90
24h volatility:
5.4%
Market capitalization:
$8.98 billion
Flight. 24h:
$712.79 million
hWe have also seen strong technical and fundamental signals over the past month, but market-wide bearish sentiment continues to drag the asset down.
First, according to Santiment data, the top 100 Chainlink whales have accumulated 20.46 million LINK, worth $263 million, since the beginning of November.
🐳 ChainLink’s 100 largest wallets have accumulated since early November, collectively adding 20.46 million $LINK (~$263 million) in their wallet.
👀 Watch the accumulation and view the individual portfolios that make up this group of whales here. 👇 pic.twitter.com/P8A7j1vYTj
–Santiment (@santimentfeed) December 16, 2025
The move significantly reduced LINK’s selling pressure since many investors were expecting the approval of LINK-based exchange-traded funds in the United States.
Then, on December 2, the Grayscale Chainlink Trust ETF began trading on the NYSE Arca stock exchange. While there aren’t many pure Chainlink ETFs yet, the landscape is quickly emerging, with applications from others like Bitwise and CoinShares.
The ETF approval, along with whale accumulation, triggered a short-lived rally in LINK price, gaining 20% on December 3.
What will motivate the LINK Rally?
“No catalyst is good enough in tits market,” wrote Motley Fool analyst, hinting at LINK’s bearish momentum.
THE reopening of the US governmentTHE US CPI data for September, the launch of the first LINK ETF, and the third in a row US Fed rate cut brought short-term gains to the crypto market, but the bullish sentiment quickly faded.
While the analyst calls Chainlink a “strong long-term investment opportunity,” he adds that current macroeconomic concerns are putting pressure on the crypto market. For example, fears of a recession in the United States and Japan have been significant bearish catalysts.
LINK, the native token of the decentralized Oracle network that connects blockchains to the real world, is down 57% over the past 12 months.
The token has fallen by 6.5% in the last 24 hours and is trading at $12.7 at the time of writing.
The whole Chain Link Buildup also seems solid. According to CoinGlass datacentralized leader crypto exchanges recorded a net outflow of 4.35 million LINK, worth $55.4 million, over the last 30 days.
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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.
Wahid has been analyzing and reporting on the latest trends in the decentralized ecosystem since 2019. He has over 4,000 articles to his credit and his work has been featured in some of the leading media outlets including Yahoo Finance, Investing.com, Cointelegraph, and Benzinga. Besides reporting, Wahid likes to connect the dots between DeFi and macro in his newsletter, On-chain Monk.
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