Chainlink whale deposits $7.6m LINK to Coinbase
Chainlink (LINK)
Editor:
Eugene Serbin
bitcoinethereumnews.com reports that a large Chainlink holder transferred 620,420 LINK to Coinbase on September 7, valued at approximately $7.6 million. This movement extends a series of deposits to the U.S. exchange over the past three weeks, bringing the total transferred from this address to 2.41 million LINK, worth about $26.04 million. Blockchain analytics account Onchain Lens identified the originating wallet as 0xF5B007a6341AcC8CfEC581d8A1c5560bC19d9650, which previously accumulated tokens via withdrawals from Binance.
The latest deposit represented roughly 25.7% of the address’s three-week transfers, with the preceding deposits totaling approximately 1.79 million LINK. At the time of the latest transfer, each LINK was valued at about $12.25, while the three-week average valuation was approximately $10.80 per token. Although transfers to centralized exchanges often signal an intent to sell, the wallet owner could also be moving the tokens for custody, collateral, or internal account management.
The address has not been identified as belonging to Chainlink Labs, the Chainlink Foundation, or a known project treasury. LINK traded near $13.07 on September 7, up approximately 7.1% during the session, with an intraday range from $12.12 to $13.32. Technical indicators showed positive momentum, with the MACD line near 0.7841 and the RSI at approximately 72.47.
Chainlink’s Cross-Chain Interoperability Protocol processed $4.9 billion in volume during the second quarter, up 353% from the prior year. Standard Chartered estimated that Chainlink secured more than $110 billion in value across its oracle feeds and cross-chain services.
How the market reacted
Whalio's own Binance spot order flow for LINK, measured when this story was written up on 7 September 2026. Not the outlet's figures.
LINK is trading at $13.23 with a 24-hour buy ratio of 56.3%, indicating that buyers are dominating the market over the full day. Shorter-term pressure shows a 1-hour buy ratio of 52.8% and a 4-hour ratio of 53.6%, suggesting that while buying remains dominant, the intensity is slightly lower than the daily average. The 24-hour volume delta is +$6,641,770, meaning net buying volume has significantly outweighed selling volume over the last day. This positive delta, combined with a CVD of +$8,924,155, confirms that aggressive market buying has driven the price action. The market has seen net buying for 16 of the last 24 hours, reinforcing the dominance of the bid side.
The latest daily buy ratio of 49.4% sits at the 56th percentile of the last 322 days, against a median of 48.8% - ordinary for this coin.
Was that an ordinary day?
The same Binance spot measurements for LINK, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 49.1%, making today’s 56.3% reading an unusual day for the coin with a +7.1 point increase. Spot volume today is 1.85x the weekly average, indicating significantly higher activity than usual. This surge in volume coincides with an 8-day price change of +18.7%, driven by a total volume delta of +$4,100,774 over that period. Only 2 of the last 7 days saw net buying, highlighting that today’s sustained buying pressure is a notable deviation from the recent weekly trend.