Chainlink (LINK) Whales Accumulate 3.58M LINK Tokens Worth $76.9M as Price Targets $80 by End of 2025

Following a strong rejection at $30 in mid-December, the Chainlink price has faced a strong correction of around 27% and is currently trading close to $21.50 support.

The price of Chainlink (LINK) has faced a strong correction of around 27% following a powerful rejection at $30 in mid-December. Currently, the asset trades close to crucial support at $21.50. However, despite this price decline, Chainlink whales have been buying the dips in a massive accumulation, as highlighted in a recent CNF report.

Chainlink Whale Accumulation On The Rise

During the second half of December, Chainlink has observed a significant price retracement that mirrors the broader trends in the cryptocurrency market. However, this has provided a strong rationale for whales to continue accumulating at every dip.

According to blockchain analytics firm Santiment, Chainlink whales – those holding between 1 million and 10 million LINK – have made massive LINK purchases recently, adding a staggering 3.58 million LINK tokens, valued at approximately $76.9 million, in just the past three days. This accumulation by big players shows that the market sentiment for LINK is strong despite the recent price dip.

Amid this huge whale accumulation, the overall market sentiment around LINK remains quite optimistic with strong rally expectations in January 2025. As reported by Crypto News Flash, some analysts also believe that the LINK price can rally all the way to $80 by the end of next year.

LINK Price Expectations in the Near Term and Long Term

At press time, the LINK price is trading 1.5% up at $21.68 with a market cap of $13.83 billion. Currently, LINK bulls are trying to hold strong support at $21.5 levels.

Technical analysis by Coinpedia shows that the Chainlink price is currently trading below crucial 20-day and 200-day moving averages (MAs). Should Chainlink succeed in breaking through these technical barriers, traders could see an opportunity for a 40% profit as the token aims to revisit its recent highs.

In the near term, the market sentiment remains cautiously optimistic as LINK attempts to align with the altcoin sector’s broader trend.

However, the yearly outlook for LINK remains very much bullish. Price analysis from CoinCodex indicates that January could mark the beginning of a bullish recovery for Chainlink (LINK). The maximum projected price for LINK in January is $43.03, presenting a potential return on investment (ROI) of 91%. CoinCodex forecasts an average price of $35 for the month, a more conservative yet optimistic outlook for the asset.

Furthermore, analysts believe that LINK will deliver its strongest performance by May 2025 with projections of $63 for the month, with a potential low of $37.11 and a high of $81.83. If LINK reaches its projected high, it will represent an impressive return on investment (ROI) of over 268% from its current levels.