Chainlink (LINK) Falls 53% Since August, Yet Major Investors Are Rapidly Accumulating

Chainlink's Price Struggles: Chainlink (LINK) has dropped over 53% from its August peak of $27, facing challenges in reaching the $14 mark, but is seeing renewed interest from large holders after a prolonged downturn.

Whale Activity on the Rise: Recent data shows a significant increase in whale activity on Binance, with a sharp rise in LINK outflows indicating accumulation, as whales transfer large volumes of LINK to external addresses.

Market Dynamics and Confidence: The return of Binance whales suggests a rebuilding sense of confidence in Chainlink, with historical patterns indicating that such accumulation may precede stabilization or recovery in the market.

Development Activity Ranking: Chainlink ranked third in notable development activity over the past 30 days, despite slipping in rank compared to the previous month, while other projects like MetaMask and Radworks saw upward movement.