Key Takeaways

• The number of Chainlink whale wallets holding more than 1 million LINK has increased by 25% year over year.
• Tighter LINK supply from institutional involvement is pushing prices higher.
• LINK is trading within a range but may be ready to break out to $27.

Accumulation of Whales Points to Building Confidence

The whales have shown strong activity around Chainlink’s coin in the last year, indicating growing confidence in this asset.

According to statistics, the number of addresses holding at least one million LINK has risen from 100 in April 2025 to 125 in April 2026, a 25% increase.

Although whales have been accumulating LINK tokens, prices have not responded positively.

However, accumulation by whales is generally a positive long-term outlook as opposed to short-term speculation and price increases.

Institutional Adoption Narrows Supply-Demand Dynamics

Other than whale actions, institutional adoption has become key in dictating Chainlink’s future prospects. The Chainlink Reserve fund has increased consistently by over 137,000 LINK tokens worth about $1.17 million. The total amount held in the reserve fund stands at over 2.93 million LINK tokens, thus decreasing the amount of LINK in circulation.

Moreover, Chainlink’s platform infrastructure keeps gaining traction among enterprises. Applications using Chainlink’s oracle technology are providing fee revenues, thus boosting the ecosystem’s operations. Specifically, token distribution and stablecoin distribution applications are providing enhanced liquidity and higher demand for LINK tokens.

The development of data-based platforms has led to more growth. More transactions have been seen in data feeds and oracle networks, leading to billions of dollars worth of trading volumes with thousands of active users.

Imminent Breakout Hints at Price Consolidation Point

Technically speaking, LINK has been consolidating around $8-$9.40 during the last few weeks after early February.

The period of consolidation means uncertainty in the market when neither bulls nor bears fully control the situation.

Nonetheless, the creation of a slanting resistance trend line means that the price might soon break out. Currently, the MACD is mildly bearish but the declining red histogram hints that selling strength is fading away.

In general, past history has shown that similar consolidation points have usually been followed by a breakout towards new highs in LINK’s price action. Prior times in which the asset experienced such a consolidation phase ended up in substantial rallies once the resistance was breached.

A potential breakout from the slanting resistance trend line will probably increase the bullish activity as well as the ongoing accumulation among whales.

Will LINK Return to $27?

The $27 level is a crucial resistance point for Chainlink. Although the price currently stands well below this level, it should be noted that there is nothing theoretically stopping LINK from reaching these heights.

Breaking out of the current consolidation pattern with the help of continued accumulation by whales and institutions would trigger the beginning of an uptrend. Nevertheless, traders must keep in mind other elements, including the state of the cryptocurrency market and the economy as a whole.

Chainlink is currently at an important crossroads, with whales accumulating and institutions adopting the project, but its price failing to rise correspondingly. It is clear that the limited supply and expanding network serve as a great starting point.

Although LINK appears to be in a range-bound situation, it should not be forgotten that technical analysis points toward an eventual breakout. If the momentum rises, achieving new price levels—including $27—becomes a possibility.

Solana (SOL) is trading just above $82 at the time of writing on Monday, marking its fourth consecutive day of recovery. While funding rates for SOL futures have climbed, a simultaneous drop in Open Interest suggests sentiment remains divided. From a technical perspective, the 50-day Exponential Moving Average (EMA) at $88.80 stands out as the key resistance level to watch.

Derivatives signal optimism, but participation declines

Market data points to rising bullish positioning among traders, even as overall participation in SOL futures contracts declines. According to CoinGlass, the OI-weighted funding rate has increased to 0.0067% from 0.0042% on Sunday, indicating that long-position traders are willing to pay a premium—typically a sign of growing confidence in further upside.

However, this optimism is not fully supported by market activity. Open Interest in SOL futures has dropped to $4.97 billion from $5.07 billion on Friday, signaling a reduction in total capital committed to the market. This divergence—rising funding rates alongside falling Open Interest—highlights a mixed sentiment, where bullish bias exists but conviction appears limited.

Institutional demand remains soft

On the institutional side, demand for Solana continues to show weakness. Data from Sosovalue reveals that SOL-focused exchange-traded funds (ETFs) recorded net weekly outflows of $5.24 million, marking a second straight week of withdrawals. If this trend persists, it could represent the longest streak of weekly outflows so far, potentially adding downward pressure to SOL’s spot price in the near term.

Will Solana extend its recovery to $93?

The SOL/USD 4-hour chart is bullish and inefficient, with the coin up by nearly 4% in the last 24 hours. At press time, SOL is trading at $82.50 per coin. 

The near-term bias is mixed as SOL holds well below the 50-day and 100-day Exponential Moving Averages, keeping a broader corrective structure.

The momentum indicators have also switched bullish, with further gains in the near term. The Moving Average Convergence Divergence (MACD) line remains above its signal line, signaling persistent buying pressure. 

The Relative Strength Index (RSI) at 60 is above the neutral 50, signaling a growing bullish momentum.

If the rally persists, Cardano would meet an immediate resistance at the 50-day EMA near $88.81, which caps rebounds and guards a stronger move toward $98.02, close to the 100-day EMA at $102.18.

However, if the sellers regain control, the support zone between $75.63 and $77.60 could serve as a bounce-back spot. An extended selling pressure would bring into focus the February 6 low at $67.50.

China’s tax and financial regulators on Monday urged banks and local authorities to use blockchain and privacy computing to upgrade the “bank-tax interaction” model and expand financing for small businesses.

The State Administration of Taxation and National Financial Regulatory Administration said in a joint policy notice that banks and taxpayers should standardize data sharing and reduce information asymmetry between tax authorities, banks and enterprises.

The report also urged banks to improve credit models, enhance credit approval efficiency and increase the supply of financing services to “honest, tax-paying enterprises.”

The directive aligns with China’s broader effort to integrate blockchain into data infrastructure, following a National Development and Reform Commission roadmap released in January 2025 targeting nationwide implementation by 2029.

Shen Zhulin, the deputy director of the National Data Administration, said in a January 2025 press conference that China expects blockchain-based data infrastructure to attract 400 billion yuan (about $58 billion) in yearly investments.

Chinese regulators outline data infrastructure push with 400 billion yuan target

While China has issued strict controls on cryptocurrencies and speculative digital asset trading, it also pushed for the incorporation of blockchain initiatives in finance and data infrastructure.

In October 2019, Chinese President Xi Jinping highlighted the technology as an important “breakthrough” for independent innovation of core technologies, urging the acceleration of the development of blockchain-based applications and their integration in the real-world economy.

Related: Trump: US has to ‘make it so that China doesn’t get the hold‘ of crypto

In April 2021, the Shenzhen Tax Bureau expanded the country’s first blockchain electronic invoice system.

However, in September that same year, China issued a nation-wide ban on crypto transactions and mining as part of a wider crackdown across multiple government agencies.

Despite the ban, China is still cited as the third-largest Bitcoin (BTC) mining country. In January 2026, it accounted for 11.7% of the global hashrate, according to data from Compass Mining.

Magazine: China’s ‘50x’ blockchain boost, Alibaba-linked AI mines Bitcoin: Asia Express