Gate News update: Chainlink (LINK) whale activity has recently increased significantly, but the price has fallen for seven consecutive months, drawing market attention. CryptoQuant analyst Darkfost noted that, recently, daily outflows from certain top-10 whales on a CEX have exceeded 8,000 LINK per day; since mid-February, the monthly average outflow has risen from around 2,000 LINK to 2,600 LINK, indicating that large holders’ activity continues to increase. These withdrawals typically reduce sell-side liquidity, but in prior similar accumulation phases, the market trend was not changed.
In terms of institutional demand, LINK spot ETF fund inflows still exist, but have clearly slowed. According to SoSoValue data, since Grayscale and Bitwise launched LINK spot ETFs, cumulative inflows have exceeded $98 million; however, monthly inflows have fallen from over $59 million in December last year to about $10.8 million in March. At the same time, there have been multiple zero-inflow days, suggesting institutional demand remains relatively mild.
Price performance continues to face pressure. LINK has been falling for seven consecutive months since September 2025, setting a new record for the longest consecutive decline in history. In early April, the price was about $8.5, with a drop of roughly 2.3%. The contradiction between whales steadily adding to holdings and weak price action has created disagreement in the market about the outlook. Big holders may be preparing for a price reversal, or they may be picking up at low levels amid a long-term downtrend.
Observers say LINK’s future trajectory may depend on overall crypto market sentiment. If sentiment improves, whales’ continued accumulation could help support the price; otherwise, in the short term, the price may remain under pressure. Investors should monitor whale behavior and changes in ETF fund inflows to determine whether LINK is in a bottom accumulation phase or still trading within an adjustment range.
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