Whale Deposits $26M LINK to Coinbase as Price Drops Below $12
Chainlink (LINK)
Editor:
Eugene Serbin
bitcoinethereumnews.com reports that a major whale transferred over $26 million in LINK tokens to Coinbase over the past month. Onchain Lens identified the address as having deposited roughly 2.41 million LINK tokens, which were originally acquired via Binance. While such deposits often signal potential selling pressure, the gradual transfer over several weeks may reduce immediate market impact.
LINK had previously surged 86% from a July bottom near $7 to a peak close to $13 before retreating below the $12 threshold. The token is currently trading around $11.80, with immediate support identified at $10.80 and a deeper floor at $9.80. Trading analyst Michaël van de Poppe noted that if Bitcoin experiences downside volatility, he would consider accumulating LINK beneath $10.50.
He characterized the asset as a strong runner and expressed interest in buying any wicks below that level. On-chain metrics show network strength, with active addresses stabilizing at 4,821 and new addresses normalizing to roughly 1,140. Santiment data indicates Chainlink’s address expansion outpaced Solana and Ethereum during the comparable timeframe.
The Chainlink ecosystem recently achieved $30 trillion in cumulative enabled transaction value, with CCIP weekly volume rising 260% to $1.3 billion. Prediction marketplace World unveiled a Solana-native product leveraging Chainlink Data Streams for automated settlement.
How the market reacted
Whalio's own Binance spot order flow for LINK, measured when this story was written up on 12 September 2026. Not the outlet's figures.
Whalio spot data shows LINK trading at $11.55 with a 1-hour buy ratio of 61.8%, indicating strong short-term buying pressure. This 1-hour ratio is significantly higher than the 4-hour buy ratio of 51.5% and the 24-hour buy ratio of 51.6%, suggesting that buying intensity is building in the immediate term rather than fading. The 1-hour volume delta is positive at $90,615, while the 4-hour delta sits at $57,451, confirming active accumulation over the last few hours. Over the full 24-hour period, the volume delta reaches $1,396,509, with a cumulative volume delta (CVD) of $2,617,328. This positive delta means that buy volume exceeded sell volume during this period, driving the current price action. Buyers dominated 16 out of the last 24 hours, contributing to a 24-hour spot volume of $41,948,387 across 523,609 trades.
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.
Compared to the preceding week, today’s 24-hour buy ratio of 51.6% is slightly above the 7-day average of 50.4%, representing a difference of 1.2 points. This indicates that today is an ordinary day for the coin, with buying pressure remaining consistent with recent averages. The 24-hour spot volume of $41,948,387 is 1.14 times the weekly average, showing a moderate increase in trading activity. While the 7-day average saw net buying on only 3 of 7 days, the current 24-hour delta of $1,396,509 contributes to an 8-day total delta of $5,569,539. Despite this volume increase, the price change over the last 8 days remains flat at -0.7%, suggesting that the recent volume has not yet translated into significant upward price movement relative to the weekly trend.