The post Chainlink Whales Offload 31M Tokens as Price Hits $12.40 appeared on BitcoinEthereumNews.com. Key Insights: Chainlink whale wallets dropped 31M LINK, showing major sell activity over recent weeks. LINK price broke $12.50 support, tracking large inflows to exchanges around Nov 15–20. Whale behavior and trendline pressure suggest bearish momentum unless price rebounds above $15. Chainlink Whales Offload 31M Tokens as Price Hits $12.40 Chainlink addresses holding between 100,000 and 1,000,000 LINK have reduced their holdings by 31.05 million tokens over the past three weeks. On October 30, these wallets held around 191.5 million LINK. By November 24, that number had dropped to approximately 158.5 million. This change began gradually but saw sharper movements between November 12 and 21.  Wallet behavior in this range often reflects broader market activity. The movement suggests large players moved tokens either to exchanges or to other wallets, reducing their exposure in the short term. Exchange Inflows Increase as Price Falls Data from CryptoQuant shows a rise in LINK sent to centralized exchanges. Two large inflow events were recorded—one on November 15 with over 11 million LINK and another on November 20 with around 8 million LINK. These moves often come ahead of sell activity. Source: CryptoQuant Between October 24 and November 24, LINK’s price fell from above $18.50 to roughly $12.40. The largest inflow spikes align with some of the steepest drops in price.  According to Ali Martinez,  “The chart shows a clear decline in Chainlink holdings among whale wallets… This drop in whale supply appears to be gradual at first, followed by sharper outflows.” Price Action Shows Breakdown Chainlink’s price recently broke through a support level near $12.50. It is now trading around $12.41, after losing over 11% in the past seven days. The token’s current movement follows a pattern of lower highs since early November. A descending trendline continues to direct price action downward. Analysts tracking… The post Chainlink Whales Offload 31M Tokens as Price Hits $12.40 appeared on BitcoinEthereumNews.com. Key Insights: Chainlink whale wallets dropped 31M LINK, showing major sell activity over recent weeks. LINK price broke $12.50 support, tracking large inflows to exchanges around Nov 15–20. Whale behavior and trendline pressure suggest bearish momentum unless price rebounds above $15. Chainlink Whales Offload 31M Tokens as Price Hits $12.40 Chainlink addresses holding between 100,000 and 1,000,000 LINK have reduced their holdings by 31.05 million tokens over the past three weeks. On October 30, these wallets held around 191.5 million LINK. By November 24, that number had dropped to approximately 158.5 million. This change began gradually but saw sharper movements between November 12 and 21.  Wallet behavior in this range often reflects broader market activity. The movement suggests large players moved tokens either to exchanges or to other wallets, reducing their exposure in the short term. Exchange Inflows Increase as Price Falls Data from CryptoQuant shows a rise in LINK sent to centralized exchanges. Two large inflow events were recorded—one on November 15 with over 11 million LINK and another on November 20 with around 8 million LINK. These moves often come ahead of sell activity. Source: CryptoQuant Between October 24 and November 24, LINK’s price fell from above $18.50 to roughly $12.40. The largest inflow spikes align with some of the steepest drops in price.  According to Ali Martinez,  “The chart shows a clear decline in Chainlink holdings among whale wallets… This drop in whale supply appears to be gradual at first, followed by sharper outflows.” Price Action Shows Breakdown Chainlink’s price recently broke through a support level near $12.50. It is now trading around $12.41, after losing over 11% in the past seven days. The token’s current movement follows a pattern of lower highs since early November. A descending trendline continues to direct price action downward. Analysts tracking…