As This Altcoin Plunges, Whales Step Up: Transaction Count Hits Yearly Record!

As Chainlink’s price plunged over the past 10 days, the daily number of transactions worth $100,000 or more rose to 681, reaching its highest level of 2026.

On-chain analytics platform Santiment reported that the Chainlink (LINK) network saw its busiest day for large transactions since November 19, 2025. The 681 large transactions recorded in one day show that whale activity increased notably as the price retreated.

LINK rose from around $8 to above $15 in August, then experienced a sharp pullback over the past 10 days. Santiment considers increased activity among large investors one of the possible main reasons behind this volatility.

Large investors stepped up activity during the decline

According to the analytics platform, price declines during periods when smaller investors are selling can create buying opportunities for whales. However, the reported transaction count does not show whether buying or selling was dominant. Therefore, activity reaching a yearly high does not, on its own, indicate that whales were net buyers.

The notable aspect of the data is that, as the price fell, high-value transactions reached a frequency not seen at any point throughout the year. The figure of 681 refers not to the number of investors, but to the number of transactions each worth at least $100,000.

Institutional developments may also have increased interest

Santiment notes that, alongside price volatility, institutional developments announced at the end of September may also have increased interest in LINK. These include CCIP 2.0, efforts to connect financial institutions with Swift’s blockchain-based recordkeeping system, and the Fulcrum funding infrastructure.

Thus, whale activity coinciding with Chainlink’s sharp price decline may have been driven by both price fluctuations and developments related to the project.