Chainlink News Today: What 529K Whale Withdrawal Means for LINK Price

Chainlink (LINK) is gaining attention after a whale removed 529,999 tokens worth $15.5 million from Binance over three days. This large transaction has led to discussions about what it means for LINK’s price and the market.

A whale withdrew 529,999 LINK tokens from Binance in just three days. The most recent withdrawal, made six hours ago, included 100,000 tokens worth $2.95 million. These actions reduced the amount of LINK available on the exchange.

Experts like Lookonchain believe this kind of move shows long-term plans, such as holding the tokens or using them in decentralized finance (DeFi). With fewer tokens on Binance, selling pressure decreases. This can help keep LINK’s price steady or even push it higher. Such activity also shows strong confidence in Chainlink’s future potential.

Data from Upside-Down Crypto Data shows LINK is at a high short-term risk level. This often means the price has reached a local peak and may drop or move sideways for a while. Indicators like the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) suggest the token is overbought.

Some expect this pullback or pause to create a stronger foundation for the next rise. While LINK’s long-term risk is also increasing, similar situations in the past have led to big price increases after a period of consolidation.

The $21 support level is key for LINK. This level has been tested many times and continues to hold firm. If the LINK price stays above $21, analysts believe it could climb to $35. This would represent a 38% leap from its current price.

Charts show a rounded bottom pattern, which is a strong sign of bullish momentum. However, some signals suggest short-term pressure. The Awesome Oscillator shows slight bearish momentum, and the Chaikin Money Flow (CMF) indicates small capital outflows at -0.19. Analysts believe these trends could shift if more buyers enter the market.

Chainlink may be the talk of the town with the latest whale withdrawals, but Minotaurus (MTAUR) also has everyone buzzing.

Its ongoing presale has reached a major milestone—900,000 USDT—and the current price is 0.00008109 USDT.

This is still a 59% reduction from the listing price of 0.00020 USDT, giving today’s MTAUR buyers a significant advantage. If you joined at the initial presale price of 0.000040 USDT, your tokens have already grown by 102% in value.

MTAUR’s utility shines in the game, offering players access to exclusive features and giving them a strategic edge.

On top of that, MTAUR holders enjoy referral bonuses for bringing friends on board, and the vesting program comes with extra benefits for locking in tokens long-term.

With over 15,000 community members rallying around this project, excitement is only growing. Don’t forget the 100,000 USDT giveaway—one lucky participant will win 50,000 USDT in MTAUR!

This presale is moving fast, and prices increase with each stage. Get in now and secure your place in this exciting journey!

Chainlink’s whale activity and price indicators suggest mixed short-term outcomes but solid long-term potential. The $27 support level remains crucial. If it holds, LINK could reach $35 in the coming weeks.

If you’d like to future proof your LINK holdings, why not make MTAUR your next play?

Early perks and an easy entry are waiting for you—act fast before this opportunity passes.

Learn more about Minotaurus by following the links below:

Website: http://minotaurus.io/
Announcements: https://t.me/minotaurus_official
Chat: https://t.me/minotaurus_chat
Twitter: https://twitter.com/minotaurus_io

This is a sponsored article. Opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on information presented in this article.