Chainlink (LINK) Price: Breakout Above $9 Backed by Whale Accumulation and ETF Inflows
TLDR
- LINK climbed 8% to $9.56 on August 15, up 15% over the past week
- Derivatives open interest rose 16% to $694 million, with trading volume up 123%
- The Bitwise Chainlink ETF pulled in $1.5 million in weekly inflows
- Whale transactions hit a five-month high, with large holders controlling 46.57% of supply
- One analyst is targeting $20, with near-term eyes on $10, $10.50, and $11
Chainlink (LINK) broke above the $9.04 resistance level on August 15, ending a consolidation phase that had been in place since June. The token climbed as high as $9.73 before settling around $9.45–$9.56, marking a clear shift in its short-term price structure.
The move came alongside a 123% jump in trading volume, which hit $1 billion. Derivatives open interest rose 16% to $694.39 million, pointing to new capital entering the market rather than just existing positions being reshuffled.
LINK’s market cap rose to around $7.15 billion as a result of the price move.
Whale Activity Hits Five-Month High
On-chain data from Santiment showed 246 whale transactions worth over $100,000 each — the highest count since March. Wallets holding between 100,000 and 10 million LINK now control 46.57% of total supply, equal to roughly 466 million tokens.
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