Chainlink Price Faces Risk as Whale Transfers 984K LINK to Coinbase

Key Insights:

• Chainlink price in focus as a holder moved 984.55K tokens to the Coinbase exchange.
• Bullish forecasts could support LINK Price despite rising distribution concerns.
• Nearly $9.23M in LINK entering Coinbase raises the risk of short-term selling.

Chainlink price traded near $9.35 as a major holder moved 984,550 LINK, worth about $9.23 million, to Coinbase. The transaction came after the whale withdrew roughly 2.41 million LINK at an average price of around $8.40 over the previous month.

Chainlink traded close to the lower end of its $9.30 to $9.62 daily range. Earlier, LINK price approached $9.60 before sellers erased the intraday advance.

Notably, selling pressure increased after LINK lost the $9.50 area. Attempts to rebound near $9.40-$9.45 also failed to gain traction.

LINK price increased 12.6% over seven days and 13% over 14 days. Additionally, the token recorded a 15.3% increase over 30 days.

The current decline, therefore, follows a multi-week recovery in LINK. Meanwhile, activity from a large holder introduced additional selling-related flows during the session.

Whale Moves LINK After Month of Withdrawals

Notably, a Chainlink whale withdrew about 2.41 million LINK from Binance over the past month at an average price of around $8.40. Three hours before the reported update, the holder transferred 984,550 LINK to Coinbase.

Data shared by Onchain Lense revealed that the transfer was estimated at $9.23 million. The wallet still held roughly 1.43 million LINK after the transaction was completed.

With Chainlink price trading near $9.40, the remaining holdings were worth an estimated $13.43 million. The overall position also showed approximately $1.42 million in profit.

Chainlink Derivatives Data

That amount represented roughly a 12% return based on the supplied wallet data. At the same time, LINK derivatives recorded liquidations across both market directions.

Over 24 hours, total LINK liquidations reached $162,110. Short liquidations accounted for $91,490, compared with $70,620 from long positions.

However, the four-hour figures shifted heavily toward leveraged longs. Total liquidations reached $8,150, including approximately $8,080 from long positions.

Short liquidations during that period totaled only $66.35. Over 12 hours, meanwhile, Chainlink recorded $40,410 in total liquidations. Long positions accounted for $19,420 of that amount, while short positions contributed $20,990.

Standard Chartered Sets $200 Chainlink Price Target

Additionally, Standard Chartered recently set a $200 Chainlink price target for 2030. The bank also cited $13 this year and a later $133 level.

Its forecast incorporates tokenization growth from $340 billion to $4 trillion by 2028. Standard Chartered identifies Chainlink as infrastructure supporting the tokenization market.

The supplied data also puts Chainlink’s share of oracle-dependent decentralized finance at roughly 70%. Meanwhile, the largest LINK wallets have reached a record level.

Those major wallets have also kept accumulating LINK. Their activity comes as Chainlink price trades near $9.40 following its recent multi-week price recovery.

The post Chainlink Price Faces Risk as Whale Transfers 984K LINK to Coinbase appeared first on The Coin Republic.