In the ever-volatile cryptocurrency market, the latest developments surrounding Chainlink (LINK) have caught the eyes of analysts and investors alike. According to a fresh report by Lookonchain, 30 newly created wallet addresses have collectively withdrawn 6,256,893 LINK, equivalent to roughly US$116.7 million, from the exchange Binance — a clear signal of strong accumulation.
At the time of writing, LINK was trading around US$19.01, representing an 8.9% increase over the previous 24 hours.
Key Drivers of the Rally
1. Whale/investor accumulation
The large token withdrawals from Binance suggest that influential holders or “whales” are increasingly committed to holding LINK rather than trading it short-term. The specific addresses cited include:
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Wallet 0xbBF: withdrew ~400,536 LINK (~US$7.29 million) and now holds ~1.145 million LINK (~US$21.52 million)
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Wallet 0x111a: withdrew ~231,715 LINK (~US$4.34 million)
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Wallet 0x586: withdrew ~193,499 LINK (~US$3.62 million)
2. Strongly improving fundamentals
LINK’s ecosystem has been gaining traction with a sequence of partnerships and integrations:
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Alliance with Mastercard: enabling about 3 billion card holders to buy crypto on-chain via Chainlink’s interoperability.
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Integration of cross-chain token standards with Optimism Superchain.
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Collaboration with major institutions like UBS, Deutsche Börse, and the SBI Group in upstream tokenization and data feed services.
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Participation in a key event: Chainlink being invited to a Federal Reserve conference on October 21 to discuss innovation in payments and tokenisation.
3. Technical outlook: Breaking resistance, new target
Technical analysts are pointing to a favorable chart structure for LINK:
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One analyst, “Cantonese Cat”, identifies a base near US$17, with the resistance band between US$22-24. A breakout above this could propel LINK toward US$36.
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Another analyst, “Klaus SchwAPU”, is even more bullish — using past recovery patterns (2020-21) to project a possible peak of US$350 in future months.
Risks & Considerations
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While accumulation and institutional engagement are positive, the cryptocurrency sector remains highly speculative and volatile.
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Breaking through the US$22-24 resistance zone is a key condition; if LINK fails to clear this range convincingly, the rally toward US$36 may stall.
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Macroeconomic headwinds, regulatory shocks, or broader crypto market downturns could negate the bullish setup.
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The projections (especially US$350) are based on assumptions that past performance may repeat — which is not guaranteed.
Outlook: Why US$36 is a realistic near-term target
Combining on-chain signs of accumulation, strong institutional ecosystem developments, and positive technical signals gives the case for LINK targeting US$36 a plausible near-term scenario. If LINK manages to break above the identified resistance and sentiment remains supportive, that target appears achievable. Beyond that, the higher price zones such as US$80 or more become speculative but possible under a bullish continuation scenario.
Final Thoughts
LINK is showing several converging signals that favour a move upward: meaningful accumulation by large holders, institutional integrations that enhance real-world utility, and charts that hint at a breakout. While nothing is guaranteed — and staying aware of risk is essential — the US$36 level stands out as an attainable milestone in the current environment. If you’re tracking LINK or considering exposure, the key levels (US$22-24 breakout) and structural drivers are worth keeping an eye on.
Stay alert. Stay patient. The next real opportunity may be closer than you think.
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