Chainlink (LINK) Price Alert: 25% Rally Expected as Top Traders Deploy this $320M Strategy

 Chainlink Price Insights:

• Chainlink (LINK) price recorded a 13% boost over the weekend before retracing toward the $16.20 area at press time on Dec 10. 
• As investors switch focus to altcoin markets to amplify gains, Chainlink attracted significant inflow from crypto whales in the last 72 hours. 
• The Top 100 largest Chainlink investors were spotted adding another 19.44 million LINK tokens to their holdings on Dec 7. 

Chainlink (LINK) Bullish whale investors continue to aim for the $20 price target despite a sharp correction from $17 to $15 this weekend. 

On-chain analysis explores how the crypto whales accumulating another 19.44 LINK tokens (~$320 million) on Friday could impact the ongoing Chainlink price rally in the mid-to-long term. 

Chainlink Top 100 Largest Investors Acquired $311 Million in One Day

Chainlink (LINK) price experienced a mild pull back on Sunday, Dec 10, after briefly reclaiming the $17 territory on Friday. However, with crypto investors now looking to front-run the much-anticipated altcoin season, the Chainlink bulls look set to stage an instant rebound toward $20. 

According to a vital on-chain indicator culled from Santiment,  corporate entities and high net-worth investors entered a dramatic buying spree, accumulating over $300 million worth of LINK tokens in a single day. 

As depicted in the chart below, the top 100 largest Chainlink investors held a total of 697.26 million LINK as of Dec 6. But since then, they have rapidly accumulated another 19.48 million LINK tokens, bringing their cumulative balances to 716.74 million on Dec 7. 

Intuitively, the Supply Held by Top Addresses metric provides a real-time snapshot of the aggregate balances currently deposited in the largest investors’ wallets. Typically, when an increase in the supply held my top addresses is often interpreted as a strong bullish signal. 

It indicates a buying trend among the largest stakeholders within the cryptocurrency’s ecosystem. When it occurs in the middle of a market rally as observed above, it suggest that the bullish whales are target another LINK price leg-up. 

Firstly, the chart above affirms that, due to their financial muscle, their historical accumulation trends has been closely correlated to previous Chainlink price rallies. 

Hence, if strategic retail traders are inclined to mirror their trades, this could further amplify the buying pressure and push Chainlink price upward in the days ahead. 

If this thesis holds Chainlink price will likely rebound 25% toward the $20 territory, before facing a major resistance.