After six months of decline, the LINK chart finally showed a green monthly candle, but the token is still trading below $10.
It seems that investors view the sideways movement below this level as an opportunity to accumulate.
On-chain data for LINK also signals potential growth in the coming month.
Chainlink accumulation is reaching its peak, whales are actively buying LINK
Data from Arkham Intelligence shows a series of large LINK purchases this week. Among them, 217,000 tokens worth about $2 million, purchased off-exchange from Cumberland, and another 83,000 tokens worth $800 thousand, acquired on Binance.
In addition, one major investor with the address 0x91c purchased 384,000 LINK for about $3.49 million through over-the-counter trades with B2C2 Group and Galaxy Digital.
According to Santiment, the number of wallets with a balance of 1,000 LINK has increased to 25,420. This is the maximum since December 3, 2025.
Such dynamics indicate a simple thing. Large and medium players are currently accumulating LINK, not exiting their positions.
As noted by Santiment, despite LINK trading in the range of $9 to $10 since early February, large capital is gradually returning to the network in anticipation of a potential breakout.
The number of wallets with a balance of 1,000 LINK. Source: Santiment
When the price is stable, and the number of holders is growing, this is a classic on-chain signal. This usually indicates hidden demand that is gradually accumulating.
At the same time, institutional money is entering Chainlink through traditional instruments. In March 2026, spot ETFs on LINK in the USA reached a new maximum in assets under management. Currently, this is $93.74 million.
According to SosoValue, growth started back in early February. Throughout March, the chart moved upward almost without pullbacks.
Net inflow of funds into spot ETFs on LINK. Source: SoSoValue
Weekly inflows remain consistently positive. There has not been a single week of outflows. This indicates that institutional investors' interest in LINK remains at a high level.
Additional data from CryptoQuant shows a decline in LINK reserves on exchanges, while the price remains in a sideways trend below $10.
Currently, about 127.3 million LINK is held on exchanges. The decrease in supply amid accumulation creates a base for potential price growth.
LINK reserves on exchanges. Source: CryptoQuant
From a technical analysis perspective, LINK is approaching an important moment. According to TradingView, the price is currently in a key support zone that has been maintained since 2019. If this level holds, the market structure may change.
Historically, such long-term levels often become a turning point. An interesting situation is developing now. Strong support, accumulation by major players, and a decrease in supply on exchanges. All of this makes the current level important to monitor.
Chainlink support line. Source: TradingView
However, the crypto market remains unpredictable. According to a recent report, trading volumes of altcoins have fallen by 85% amid macroeconomic uncertainty. Investors are increasingly switching to Bitcoin.
Therefore, even if a recovery begins in April, the growth potential of LINK may be limited. The market remains cautious.
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