What are the "cryptocurrency whales" buying and selling on New Year's Day 2026?

If you are reading this article on New Year’s Day 2026, it is very likely that the “whales” in the cryptocurrency market have already taken a step ahead of you. While most traders are still starting their day, large wallets have begun buying and selling early, revealing the flow of funds at the beginning of the year.

Some whales are preparing for seasonal rebounds, while others quickly withdraw after notable warning signals. The picture of whale movements on New Year’s Day shows where large capital flows are heading in the near future.

Chainlink (LINK)

Cryptocurrency whales started 2026 actively buying Chainlink. The amount of LINK in large wallets increased from 505.34 million on 12/31 to 505.7 million on New Year’s Day, adding about 0.36 million LINK, equivalent to nearly $4.46 million at current prices. This early confidence from whales is particularly noteworthy, as January has historically been a strong growth period for LINK.

LINK Whales | Source: SantimentSpecifically, LINK increased +25.3% in January 2025, +24.9% in January 2023, and even +100.7% in January 2021. On average, January volatility reaches about +26.4%, which may be why whales are choosing to accumulate at this time.

LINK Price Performance | Source: CryptoRankIt appears they are betting that the upward trend in January will continue to repeat.

The LINK price chart also shows potential. Chainlink needs to rise another 2.5% to break through the short-term resistance at $12.49. If successful, the price will target levels of $13.36 and $13.76 – resistance zones maintained since 12/12. Breaking through and holding above $13.76 will shift attention to the $15.01 level; a clear breakout above $15 could push the price further to $16.77.

Chainlink Price Analysis | Source: TradingViewHowever, this positive scenario will weaken if the price loses the $11.71 level, undermining the optimism that whales are hoping for in January. In that case, the early-year LINK accumulation could be seen as a misstep rather than a market-leading signal.

Ethena (ENA)

Contrary to LINK, cryptocurrency whales are selling Ethena (ENA) on New Year’s Day. The amount of ENA in large wallets decreased from 6.31 billion to 6.29 billion, meaning 20 million ENA were sold, worth about $4.2 million at current prices. This selling pressure indicates mixed sentiment compared to the accumulation trend of LINK, creating a negative tone for ENA.

ENA Whales | Source: SantimentThis aligns with fundamental factors. Ethena’s TVL (Total Value Locked) has dropped sharply from $14.98 billion on 10/3 to around $6.48 billion currently – a decline of over 56%. The reduction of total locked assets by more than 50% is a clear sign of decreasing user activity, limited borrowing/lending, and waning confidence in the project. This is why whales are choosing to sell at the start of the year.

Ethena’s TVL | Source: DeFillamaThe ENA price chart also shows caution. An head-and-shoulders pattern is forming, with a downward-sloping neckline indicating increasing selling pressure, creating lower support levels.

This scenario carries significant risks, as each rebound is met with earlier rejection, often leading to rapid declines if support levels are broken. If the neckline around $0.15 is pierced, the price could drop by 25%, pushing ENA toward the $0.10 zone.

This bearish pattern remains risky even before reaching the neckline, with the first key level at $0.17.

ENA Price Analysis | Source: TradingViewNevertheless, buyers still have a chance to reverse. If the price surpasses $0.21, selling pressure will ease. Regaining the $0.30 level will invalidate the head-and-shoulders pattern and completely change market sentiment.

Currently, the combination of whale selling pressure, sharply declining TVL, and negative chart structure explains why ENA is in the whales’ selling zone as 2026 begins.

Pendle (PENDLE)

Although the chart signals risks, cryptocurrency whales are still actively buying PENDLE on New Year’s Day. The amount of PENDLE in large wallets increased from 193.54 million to 194.31 million, adding about 0.77 million PENDLE, worth nearly $1.42 million. This cautious buying move is notable as PENDLE surged 7.7% last week but remains in a bearish pattern.

Pendle Whales | Source: SantimentThe price chart shows a descending flag pattern forming after PENDLE plummeted 42% from its November 2025 peak.

This pattern warns that the downtrend could continue if support levels are broken. The first support is at $1.81; if lost, the price could head toward $1.65, where a breakdown might trigger a sharp decline according to the flag pattern, causing the market to slide further. Therefore, whale accumulation at this time is quite surprising: they are buying while the breakdown risk still exists.

There is a reason whales accept this risk. The Smart Money index just crossed the signal line, indicating professional traders are accumulating. Whales may be “following” the smart money’s confidence.

PENDLE Price Analysis | Source: TradingViewIf PENDLE surpasses $1.94, the price could test the $2.31 zone. Breaking above $2.31 will invalidate the bearish flag pattern and trigger a new rally, completely changing market sentiment.

Currently, PENDLE has the most interesting scenario among the three coins. Whales are buying while the breakdown risk remains, and smart money agrees with them. If PENDLE stays above $1.81 and breaks through $1.94, it could become a candidate for a speculative rebound. Conversely, if the price falls below $1.65, confidence will erode, and the bearish pattern will dominate the market.