Large wallets on the Chainlink network accumulated approximately 10.36 million LINK, valued at about $120 million, following a 17% correction in the token's price. The buying spree occurred as the token's price pulled back from local highs near $13 down to the $11.50 range by mid-September 2026.
While the broader whale cohort accumulated tokens, activity across the network varied. One tracked wallet deposited 2.41 million LINK, worth roughly $26 million, to Coinbase over the prior month. Those tokens were originally accumulated via Binance. At the same time, Chainlink's strategic reserve added 91,100 LINK valued at approximately $1.06 million, bringing its total holdings to about 5.86 million LINK. Over the past month, the reserve accumulated 511,000 LINK.
Institutional interest also remained active during the volatility. Both the Grayscale GLNK ETF and Bitwise experienced inflows and direct LINK purchases. These developments coincided with network milestones, including Chainlink crossing $30 trillion in cumulative transaction value enabled, and its Cross-Chain Interoperability Protocol (CCIP) recording a 260% spike in transaction volume in recent weeks.
Market observers note that the single whale deposit to Coinbase bears monitoring as a potential source of overhead resistance, though it represents a fraction of the broader $120 million accumulation observed during the correction.
