Whales Dump 31 Million LINK as $12.61 Support Turns Into Critical Threshold

In recent weeks, Chainlink (LINK) has seen notable activity from major holders, with whales selling off a total of 31.05 million tokens during a period of overall price decline. As reported by Ali Charts, the value of

fell from $17.90 at the close of October to $12.61 by November 24, 2025, . This wave of selling has sparked speculation about the potential for another significant move as the asset tries to recover from its lowest levels in months.

Throughout November, LINK’s price has been highly volatile, swinging between $14.05 and $16.36. Although there were short-lived rebounds, the token has found it difficult to regain upward momentum,

. At the start of the year, net flows were especially erratic, with pronounced outflows pushing the price below $20. From late April, however, inflows began to take precedence, driving LINK above $25 in early August. After that peak, net flows have steadily declined, mirroring the token’s gradual slide to $13.14 by late November.

Market analysts believe that the latest whale transactions are more indicative of strategic distribution than panic-driven selling. The sale of 31 million tokens aligns with notable price drops, suggesting that large investors are taking advantage of market weakness to reduce their positions. This behavior is consistent with broader patterns in the cryptocurrency sector, where macroeconomic challenges and a cautious market mood have prompted widespread asset sell-offs. Nevertheless, past data reveals that LINK has managed to bounce back after periods of heavy outflows. For example,

when institutional buying surpassed selling activity.

The prevailing bearish sentiment makes it difficult to forecast a swift turnaround. While the recent outflows have dampened LINK’s short-term prospects, its future performance may depend on renewed buying interest or a shift in overall market sentiment. Coinglass data emphasizes that net flows continue to be a crucial metric, as positive trends have historically been linked to price increases. Still,

— a significant support threshold — will be key in determining if another major move is imminent.