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After six consecutive months of red candles, a green monthly candle has finally appeared. However, $LINK price still remains below $10. Investors appear to view the sideways movement under $10 in March as an accumulation opportunity.
On-chain data for $LINK shows notable signals that support a positive outlook for the coming month.
Chainlink Accumulation Reaches Record Levels as Whales Aggressively Buy
Data from Arkham Intelligence shows several large $LINK purchases this week. These include 217,000 tokens ($2 million) acquired OTC from Cumberland and 83,000 tokens ($800,000) bought on Binance.
In addition, a large investor (0x91c) purchased 384,000 $LINK (~$3.49 million) OTC from B2C2 Group and Galaxy Digital.
According to data from the analytics platform Santiment, the number of wallets holding at least 1,000 $LINK has risen to 25,420. This marks the highest level since December 3, 2025.
This figure reflects a clear trend: mid-sized and large investors are actively increasing their $LINK holdings rather than selling.
“While $LINK remains in the $9 to $10 range since early February, larger capital wallets have gradually returned to the network in anticipation of a future breakout,” Santiment reported.
$LINK) Amount of Wallets Holding at Least 1,000 $LINK. Source: Santiment">
Price stability combined with a rising number of holding wallets is a classic on-chain signal. It often indicates hidden buying pressure building beneath the surface.
Institutional capital is also flowing into Chainlink through traditional financial products. In March 2026, spot $LINK ETFs in the United States reached a new record in total net assets, currently standing at $93.74 million.
Data from SosoValue shows that the total net assets of $LINK ETFs have increased since early February. The chart forms a steep upward line throughout March.
Weekly net inflows have remained consistently positive, with no negative weeks recorded. This trend shows that institutional demand for $LINK exposure remains strong.
Furthermore, data from CryptoQuant shows that $LINK reserves on exchanges have steadily declined while the price has moved sideways below $10.
Current exchange reserves stand at 127.3 million $LINK. Lower available supply on exchanges, combined with increasing accumulation, creates a foundation for potential recovery.
From a technical analysis perspective, $LINK is approaching a critical moment. Analysis on TradingView shows that $LINK price is currently at its most important support zone since 2019. Holding this level could mark a major shift in price structure.
Historically, long-term support zones like this often provide strong recovery potential. The combination of solid technical support, whale and institutional accumulation, and declining exchange supply creates a setup worth close monitoring.
However, the cryptocurrency market is inherently unpredictable. A recent report from BeInCrypto states that altcoin trading volume has dropped by 85% amid macroeconomic uncertainty, as investors shift toward Bitcoin.
Therefore, even if a recovery occurs in April, $LINK’s upside may be limited due to persistent cautious market sentiment.
The post 4 Positive Factors Driving Chainlink ($LINK) Recovery in April appeared first on BeInCrypto.