Chainlink (LINK) jumps 10% as whales accumulate over $116 million worth of tokens from exchanges since October 11.
Chainlink’s native token, LINK [NC], has staged a strong comeback, surging nearly 10% in the past 24 hours as trading volume doubled.
The move comes amid aggressive whale accumulation and broader crypto market surge on October 20.
According to on-chain data shared by Lookonchain, 30 new wallets collectively withdrew 6.25 million tokens since October 11, when LINK dipped to $16.67.
Insane accumulation!
30 new wallets have withdrawn 6,256,893 $LINK($116.7M) from #Binance since the 1011 market crash. pic.twitter.com/uI26RW1hq6
— Lookonchain (@lookonchain) October 20, 2025
This $116.7 million worth of shopping is one of the largest accumulation waves since early 2023.
Prominent analyst Ted highlighted the whale activity, noting that he personally increased his LINK holdings following the spike in whale demand.
Onchain data shows a lot of players accumulating $LINK.
Bought some spot. ✌️ pic.twitter.com/Xfm2HEtkvt
— Ted (@TedPillows) October 20, 2025
Major Partnerships Fuel Bullish Sentiment
Data from DefiLlama shows Chainlink continues to dominate the oracle space. It currently secures 475 protocols with over $62 billion in total value secured (TVS), over 62% of the market. Its closest rival, Chronicle, trails far behind at $10 billion.
Chainlink’s dominance in Oracle space. | Source: DeFiLlama
Chainlink’s Q3 report, published on October 17, further boosted investor confidence. The company revealed strategic partnerships including Swift and the Depository Trust and Clearing Corporation (DTCC) to bridge traditional finance with blockchain technology.
Moreover, Chainlink Labs is collaborating with the U.S. Department of Commerce to bring government datasets on-chain. This further strengthens its reputation as a leader in real-world asset tokenization.
LINK Price Eyes $20 if Momentum Holds
At the time of writing, LINK is trading around $18.84 with a market cap of $12.75 billion.
On the daily LINK price chart, Bollinger Bands are widening as the price tests the mid-band (20-day SMA).
This indicates rising volatility and a price breakout above the upper band near $20 would confirm bullish continuation.
However, a rejection at the upper band could push the cryptocurrency back towards the $16.5 support level.
LINK price chart with RSI and Bollinger Bands. | Source: TradingView
Meanwhile, the RSI has climbed to 45, suggesting neutral-to-bullish momentum. A further upward move in RSI may signal renewed buying strength, but failure to hold above 40 could trigger short-term profit-taking.
Analysts are suggesting that LINK could be the next crypto to explode. On the 4-hour chart, the cryptocurrency has broken its bearish trendline and is hovering around the weekly support of $17.45.
📊 $LINK 4H Outlook$LINK has broken out of its short-term bearish trendline, but price is still hovering just below the weekly key level. ⚡
If it can bounce from this support zone and close above $17.5, we could see a retest of the $20 zone in the short term. 👀 pic.twitter.com/EydVZYQUFq
— CryptoPulse (@CryptoPulse_CRU) October 20, 2025
According to CryptoPulse, if LINK bounces with a sustained close above from this level, traders could see a retest of the $20 zone in the near-term.
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