Large holders of Chainlink have acquired approximately 10.36 million LINK, valued at about $120 million, following a 17% price correction. The token price declined from local highs of around $13 to approximately $11.50 by mid-September 2026.
Despite the broader accumulation, some whale activity indicates potential selling pressure. One tracked wallet deposited 2.41 million LINK, worth roughly $26 million, to Coinbase after moving the assets from Binance.
The Chainlink strategic reserve also increased its position, adding 91,100 LINK valued at $1.06 million. This brings the reserve's total holdings to approximately 5.86 million LINK, worth about $67 million, with 511,000 LINK added over the past month.
Institutional interest remains active, with the Grayscale GLNK ETF and Bitwise reporting inflows and direct LINK purchases. Additionally, the Chainlink network reached $30 trillion in cumulative transaction value, while the CCIP protocol saw a 260% increase in volume.
