Whales have started accumulating Chainlink and Ethereum tokens from leading centralized exchanges.
Chainlink LINK $8.87 24h volatility: 3.1% Market cap: $6.28 B Vol. 24h: $366.84 M and Ethereum ETH $2 016 24h volatility: 3.6% Market cap: $243.35 B Vol. 24h: $16.63 B are seeing notable buying activity from whales as the market gains momentum.
The wallet address “0xf386” accumulated 62,207 LINK from the OKX crypto exchange early on Thursday, Oct. 23, according to data from Lookonchain.
Whales keep accumulating $LINK.
Whale 0xf386 withdrew 62,207 $LINK($1.07M) from #OKX 5 hours ago — accumulating a total of 1.1M $LINK($19M) over the past 5 months.
Whale 0xe8aa withdrew 66,113 $LINK($1.14M) from #Kraken 14 hours ago — accumulating a total of 307,684… pic.twitter.com/ioQ9pAOIwA
— Lookonchain (@lookonchain) October 23, 2025
The whale currently has 1.1 million LINK tokens, worth $19 million at the current price.
Another wallet, “0xe8aa,” withdrew 66,113 LINK tokens from Kraken late on October 22. The address has bought 307,684 LINK, worth approximately $5.34 million, over the past 30 days, Lookonchain wrote in the X post.
An Ethereum whale transferred 8,491 ETH, worth $32.47 million, from OKX to a new wallet address.
Whales keep buying $ETH!
A newly created wallet 0x86Ed withdrew 8,491 $ETH($32.47M) from #OKX in the past 3 hours.https://t.co/85mYx7Cors pic.twitter.com/1X0i5mBC5e
— Lookonchain (@lookonchain) October 23, 2025
The strengthened whale activity has brought bullish movements for both assets.
Psychological Barriers on the Way
Sometimes, holders and investors just wait for an asset to break a rounded-up price point, aka the psychological block, to make a move.
In this case, the $20 and $4,000 marks have been notable targets for LINK and ETH prices, respectively.
LINK price witnessed upward momentum with the latest whale accumulation — rising from $16.9 to $17.6 in under 12 hours.
Chainlink’s major correction happened between Oct. 10 and 11 after the massive $19.35 billion liquidations and market-wide bloodbath, falling from $22.
The asset’s market cap is hovering close to $12 billion. LINK would need to break its psychological $20 barrier, which would also pave the way for a $25 price target.
According to data from Santiment, Chainlink is also a top two project in terms of development activity.
🧑💻 Here are crypto's top overall coins by notable development activity the past 30 days. Directional indicators represent each project's rank rise or fall since last month:
📈 1) @metamask $mUSD 🥇
➡️ 2) @chainlink $LINK 🥈
📉 3) @dfinity $ICP 🥉
📈 4) @radworks_ $RAD
📈 5)… pic.twitter.com/QlqieAJfwW— Santiment (@santimentfeed) October 22, 2025
The decentralized oracle network is just behind the popular non-custodial crypto wallet MetaMask.
Ethereum also gained 1% in the past 24 hours and is trading close to $3,900. Holding above the $4,000 mark would define whether the leading altcoin can reach new heights or not.
It’s important to note that the cryptocurrency market is still in a highly volatile zone due to macro uncertainty, with strong liquidations happening every day.
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