Large Chainlink (LINK) transfer scares: What are whales planning?

The large transfers of #Chainlink (LINK) whales in a short period of time have worried investors.

Chainlink ($LINK ) continues to attract attention in the crypto market. In just 48 hours, nine new wallets withdrew a total of 362,380 LINK (worth $8.19 million) from the cryptocurrency exchange Binance. This movement among Chainlink whales reveals that interest in LINK is increasing.

As of the writing of the news, LINK is trading at $21.87 and has fallen by 4.62 percent in the last 24 hours. Although the price has fallen due to the negative trend of BTC and ETH, investors seem hopeful about Chainlink.

According to technical analysis, Chainlink is at a critical turning point. The popular altcoin, which rose to $32 in November, has declined from this level and is currently trading around $21. If this support level is maintained, we can see the price move towards $32 again. However, if #LINK cannot maintain this level, it may test lower levels.

In the last 24 hours, Chainlink's transaction count increased by 0.76 percent, reaching 10,000. This transaction increase reveals that the network is becoming more active. Network activity is generally interpreted as a positive development.

Active addresses also increased by 0.83 percent in the last 24 hours, reaching 5,700. This increase indicates that interactions on the Chainlink network are strengthening, in line with the accumulation of whales. Increasing active addresses generally indicate ecosystem growth and strengthen bullish expectations.