Blockchain analytics tracked a significant Chainlink wallet that transferred over $26 million in LINK tokens to Coinbase throughout the last month. According to Onchain Lens, the address deposited roughly 2.41 million LINK tokens that were initially acquired via Binance.
While exchange deposits often signal potential selling pressure, they don’t necessarily confirm liquidation plans. The holder could be relocating assets for security purposes or rebalancing their portfolio. The transfers occurred gradually over multiple weeks, potentially reducing immediate market impact.
The LINK token experienced substantial growth of roughly 86% from its July bottom around $7, peaking near $13 only days ago. However, recent sessions saw bearish momentum intensify, pushing the price beneath the $12 threshold. The token currently changes hands around $11.80.
Trading analyst Michaël van de Poppe (@CryptoMichNL) identified two strategic entry zones for LINK. He noted that should Bitcoin experience downside volatility, he would consider accumulating LINK beneath $10.50, characterizing it as “a strong runner already.” Van de Poppe highlighted this price point as an attractive accumulation opportunity.
Market participants are monitoring several pivotal price thresholds, with $10.80 representing immediate support. Should selling pressure continue, $9.80 emerges as the subsequent floor, with $8.80 marking a deeper retracement zone. For bullish momentum to return, LINK must recapture the $12 level before attempting to retest the recent $13 peak.
While price action shows weakness, on-chain metrics reveal underlying network strength. Active addresses climbed from 3,599 in early August to 5,572 at their height, currently stabilizing at 4,821. This retention represents approximately 66% of the initial surge. New addresses reached 1,601 before normalizing to roughly 1,140.
Chainlink pulled in a wave of new wallets in late August. Here is what the data shows, and what it cannot show.
New addresses: 974 a day in early August, 1,601 at peak, 1,140 now. About a quarter of the surge held.
Active addresses: 3,599, then 5,572, now 4,821. About two… pic.twitter.com/0TjltknUJt
— Santiment Intelligence (@SantimentData) September 10, 2026
Analytics from Santiment revealed that Chainlink’s address expansion exceeded both Solana (7.5% growth) and Ethereum (5.2% growth) during the comparable timeframe, indicating network-specific momentum.
The Chainlink ecosystem achieved a landmark $30 trillion in cumulative enabled transaction value, representing sustained expansion over multiple years. Cross-Chain Interoperability Protocol (CCIP) weekly volume exploded 260% to reach $1.3 billion, demonstrating accelerating adoption of its interoperability solutions.
Regarding platform partnerships, prediction marketplace World unveiled a Solana-native product featuring over 1 million prospective users on its waiting list. The service leverages Chainlink Data Streams and the Chainlink Runtime Environment to facilitate automated settlement for markets spanning athletics, elections, commodities, and meteorological events.
Chainlink presently trades around $11.80, beneath the significant $12 support zone, with market observers focusing on the $10.80 level as the next critical test.
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