LINK Cat is making a major purchase spree, on-chain activity approaching the annual high

Since September, ChainLink (LINK) surged to a high of $25.64 on a certain trading platform, marking its strongest performance since February. This rally began brewing in August, followed by a correction due to profit-taking, but the upward momentum resumed after entering September. However, in the latter half of the month, bearish forces intervened, and the price briefly dropped to $20.39. As of now, LINK’s performance remains impressive compared to early August.

Complementing the price trend is the increasingly frequent buying activity of large on-chain holders. According to on-chain data, large transfers (over $1 million) reached their highest level since 2025 in August. After September began, whale addresses continued to accumulate on dips, scooping up 1.25 million LINK in just a few days. The number of addresses holding over 100,000 tokens has expanded to over 600, with major holders showing no signs of slowing their purchases.

Leverage Play Behind Whale Accumulation

Perpetual contract funding rates on trading platforms have remained positive, reflecting market dominance by bulls. In the past 24 hours, LINK futures trading volume hit 1.0613 billion tokens, equivalent to 21.89 billion USDT. Open interest in on-chain futures increased by 6.72%, reaching a total of $1.65 billion. The surge in trading volume indicates rising speculative sentiment.

Meanwhile, a deeper signal is the continuous outflow of LINK from trading platforms. Mid-term data shows that this week alone, 5.5 million LINK left exchange wallets. This trend has been evident since summer 2025, suggesting holders prefer long-term positions and are not eager to sell. This is a positive sign for long-term price support.

Mid-sized whales holding between 100,000 and 1 million tokens have been particularly active during recent corrections, with single purchases exceeding 800,000 tokens. Once the recent resistance at $22 is broken, the next target could be $26.66. If the price stabilizes there, it might even push toward $30.

Quarterly Gains Hit Four-Year High

Since July, LINK has gained 82.5%, the strongest quarterly performance since Q1 2021. If the price can stabilize above $25, it will refresh the annual high since October 2021. Currently, the market is in a consolidation phase, but once the key resistance at $25.30 is broken, the upside potential is considerable.

On-chain wallet data shows that LINK reserves on trading platforms have fallen below 145 million, hitting a new low since June 2022. This supply tightening often paves the way for price increases. Theoretically, if futures market enthusiasm remains in the coming months, LINK could gradually break through technical levels at $47.15 and $88.26, with a final target possibly around $125, implying a potential increase of over 400%.

Real Asset Tokenization Becomes New Driver

ChainLink’s development team believes that tokenization of real assets (RWA) on the blockchain will be a key driver of the next economic growth cycle. As global recognition of digital financial infrastructure increases, this sector is expected to accelerate. Especially on the policy front, relevant authorities are gradually improving regulatory frameworks, attracting substantial institutional capital into this space.

The core advantage of tokenized assets lies in information verification. ChainLink’s oracle technology can securely bring real-world data and asset information onto the blockchain for use in smart contracts. This system has a wide range of applications—from asset rights confirmation to risk management, cross-chain interactions, and identity verification. Currently, over 1,000 oracle nodes are deployed across 15 different categories.

International financial institutions like UBS have used these oracle technologies to complete Hong Kong dollar tokenized transfers, enabling seamless movement across different blockchains. Such applications by major financial institutions further validate the commercial viability of the ChainLink ecosystem.

With the US launching multiple RWA pilot projects this year, demand for oracles and supporting infrastructure will significantly increase. At that time, LINK’s value as an ecosystem token will be further highlighted, and the market remains optimistic about its long-term prospects.

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