Chainlink (LINK) whales have increased their holdings by 4.59%, accumulating a total of 646 million tokens as the price experiences a downturn. Recent on-chain data reveals a significant purchase of 934,516 LINK, valued at approximately $16.92 million, alongside a spot netflow of –$7.62 million, indicating a trend of accumulation. Derivatives metrics further highlight buyer dominance, with a Long/Short Ratio of 3.38 and a bullish Futures Taker CVD. Despite these bullish signals, LINK's price remains below the EMA20 at $20.3, with near-term support identified at $16.94.