ChainLink Jumps 14% as Whales Accumulate $116M Worth of LINK Tokens Since Crash

Chainlink’s native token, LINK, rose 13.6% over 24 hours on Monday as it led the way for a wider crypto recovery following last week’s leverage-inspired move to the downside. The CoinDesk 20 Index (CD20), a measure of the broader crypto market, added 4.2% in the same period.

On-chain analyst Lookonchain reported that 30 new wallets had withdrawn a total of 6,256,893 LINK ($116.7 million) since Oct. 11, signaling accumulation from high net worth entities.

In its third-quarter review released on Friday, Chainlink Labs detailed several major deals and technology milestones driving renewed investor optimism. The network announced collaborations with interbank message system Swift, U.S. financial system clearing company Depository Trust and Clearing Corp. (DTCC) and European equivalent, Euroclear, alongside a pilot with the U.S. Department of Commerce to bring government data on-chain.

The report also outlined Chainlink’s broader platform vision, evolving from a decentralized oracle provider into a full-stack infrastructure layer for tokenized and real-world assets.

DefiLlama data shows that ChainLink still dominates rival networks in terms of oracle capacity, with $62 billion in total value secured (TVS) equating to 62% of the market. The nearest competitor is Chronicle with $10 billion TVS.