Chainlink (LINK) Sees Record 246 $100K+ Transactions, What's Next?

Quick Take:

• Chainlink (LINK) whales have shown strong interest in the asset, as 246 transactions worth $100k were spotted over the past 24 hours, the highest level in the past five months.
• In fact, LINK outperforms major cryptocurrencies today, including Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB), with an impressive 4.10% gain.
• $2.53 million worth of short-leveraged positions are on the verge of liquidation and could be liquidated if the LINK price continues its upward momentum and crosses the $8.86 level.
• The daily chart hints that the $8.90 level could act as a make-or-break level for the LINK price.

Chainlink (LINK) price is showing signs of strong bullish momentum, as the asset has garnered widespread attention from crypto giants and intraday traders. Meanwhile, the result of this positive development is also evident in the LINK price, which climbed 4.10% to reach the $8.86 level.

Chainlink Whale Activity Hits 5-Month High

Today, on-chain analytics tool Santiment shared a post on X stating that Chainlink whale activity has seen a significant spike. As per the report, over the past 24 hours, the network has recorded a massive 246 separate transactions worth more than $100k each, the highest daily level in the past five months.

The post further noted that the massive spike in whale activity coincides with wallets holding 100K to 10 million LINK, which now control 466.31 million coins, equivalent to 46.57% of the supply, making this a whale surge with balance growth behind it.

Meanwhile, the report further stated, “Chainlink has been expanding across CCIP, tokenized assets, stablecoins, institutional data, and new cross-chain lanes, while official metrics still frame the network as core oracle infrastructure for on-chain finance.”

Chainlink (LINK): Derivative Datasets Flash Bullish Signal

From the derivative side, it appears that intraday traders are following the same trend and are eyeing the price to continue its upward momentum. At press, CoinGlass’s LINK long/short ratio stands at 1.0973, above the key threshold of 1, indicating strong bullish sentiment among traders.

CoinGlass further discloses that $8.58 on the lower side and $8.94 on the upper side are the two major liquidation levels. At these levels, traders are over-leveraged and have built $4.15 million worth of long-leveraged positions and $2.53 million worth of short-leveraged positions.

Looking at these bets and the LINK price, it appears that $2.53 million worth of short bets is on the verge of liquidation.

Based on the current data, if LINK continues its upward move and crosses the $8.94 level, then these massive $2.53 million short bets could be liquidated. However, if the sentiment shifts and the price falls back to the $8.58 level, then $4.15 million worth of long-leveraged positions could be liquidated.

LINK Price Action and Key Levels to Watch

TradingView daily chart hints that LINK is approaching a key resistance level of $8.90, a level that has been acting as a sell wall since June 2026. Since then, whenever the price reaches this key level, it has witnessed selling pressure and a downside move.

Based on the current price action, if this time LINK successfully breaches the $8.90 key hurdle, then it would open the door for more gains in the coming days. In this scenario, the LINK price could see an 11% jump and may reach the $9.88 level.

This bullish thesis could be invalidated if LINK’s daily chart forms a bearish candlestick pattern at the key hurdle. If that happens, the asset could repeat history by showing a sharp downside move.

Despite all this, the LINK price continues to trade below the 200-day Exponential Moving Average (EMA), indicating bearish sentiment and seller dominance in the asset.