Chainlink (LINK) has experienced a significant 32% price surge over the past week, reaching $21.04, with an additional 8.25% gain recorded in the last 24 hours. The rally coincides with heightened whale activity and the deployment of Chainlink’s new on-chain reserve mechanism.
The substantial price movement follows an 863% spike in large transactions—those exceeding $100,000—within 24 hours. These whale transactions totaled 60.76 million LINK (equivalent to $1.21 billion), indicating concentrated accumulation by major holders.
Concurrently, the number of wallets holding between 100,000 and 1 million LINK tokens has increased by 4.2% since the start of August. This growth underscores accelerating institutional and high-net-worth investor participation in the network.
Further bolstering market sentiment, the recently launched Chainlink Reserve initiative has accumulated over $1 million worth of LINK tokens. This on-chain reserve mechanism is designed to enhance ecosystem stability, serving as a foundational trust layer for Chainlink’s oracle services.