How Grayscale and Bitwise Are Quietly Driving Whales to Hoard Chainlink (LINK)

Core Insights - Chainlink (LINK) is experiencing increased interest from crypto whales and institutional investors, indicating a resurgence of confidence in the oracle token amidst market uncertainty [1] Accumulation Activity - Recent on-chain data reveals a significant uptick in accumulation, with a notable whale withdrawing 171,000 LINK (approximately $2.36 million) from Binance, adding to an existing holding of nearly 790,000 LINK acquired at an average price of $12.72 over the past month [2] - This accumulation trend suggests a long-term bullish sentiment, with investors anticipating LINK's potential outperformance in the coming months [2] Derivatives Market Activity - The derivatives market is showing increased speculative interest, as evidenced by a newly created wallet depositing $5 million in USDC on Hyperliquid DEX and opening leveraged long positions in LINK (5x) and DOGE (10x) [3] - The combined position is currently valued at $28.2 million, despite showing a floating loss of approximately $600,000, indicating a strong appetite among sophisticated traders for leveraged exposure to LINK despite short-term volatility [3]