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LINK Quick overview
LINK rose 4% to $8.74, up about 7% in the past week. Transaction volume in large wallets reached a five-month peak, with 246 transfers exceeding $100,000 recorded in 24 hours. Whale accounts currently hold 46.57% of the total supply of LINK. The token broke through a long-term downward trend on August 11 and is currently focusing on key resistance levels of $10.87 and $12.20. Derivatives market activity surged 52%, trading volume climbed to US$524.77 million, and open interest contracts increased 13%.
Chainlink (LINK) has regained market attention due to a significant surge in whale trading volume and a technical breakthrough that market participants have been waiting for for months.
The token rose 4%, and is currently trading at close to $8.74, extending its weekly performance to about 7%. This makes LINK one of the strongest performing assets in today's cryptocurrency market.
Trading above the key support level of US$8, the token maintains a bullish short-term outlook.
Large households drive transaction volume
According to Sanitation data, Chainlink made 246 individual transfers worth more than $100,000 in 24 hours. This was the highest single-day whale trading volume observed in the past five months.
Address clusters holding 100,000 to 10 million LINK tokens currently hold a total of 466.31 million tokens, accounting for 46.57% of the total circulation supply. Historical patterns suggest that these large households usually accumulate or allocate before and after major price fluctuations, so the current level of activity is particularly noteworthy.
Market analyst Michaël van de Poppe commented on LINK's technical structure, pointing out that the token is constantly hitting higher highs and higher lows relative to Bitcoin. He emphasized that the rally seemed sustainable and believed that LINK's current value was undervalued and failed to reflect its fundamentals.
An important technical development occurred on August 11, when LINK broke through the downtrend line for several months that has been suppressing price movements since the beginning of 2026. The token was quoted at $12.20 at the beginning of the year and formed consecutive falling highs and lows for the following seven months. The annual low of $6.996 on June 6 marks the start of the current recovery phase.
Key Resistance and Support
Direct Resistance is at $10.87, the high LINK held during the accumulation phase. A successful breach of this threshold would put the token on track to challenge the year high of $12.20. If current support falls, LINK could fall back to $8.50 or even $8.30.
The Relative Strength Index (RSI) is currently at 69, close to overbought territory. At the same time, Cai Jin's Fund Flow Indicator (CMF) showed 0.24, reflecting strong fund accumulation.
Derivatives market data confirms the increased interest. Trading volume expanded 52.33% to US$524.77 million, and open interest increased 13.21% to US$540.34 million.
Standard Chartered Bank has issued a forecast that LINK will reach US$200 by 2030 and positions Chainlink as an infrastructure that supports the tokenized market expected to reach US$4 trillion by 2028. As of August 2026, Chainlink Network statistics show that its cumulative transaction value exceeds US$33 trillion, while locking in a total value of more than US$48 billion in its ecosystem.
