If you’re reading this on New Year’s Day 2026, crypto whales are probably already ahead of you. While most traders are still waking up, big wallets have started buying and selling early, hinting at where early money wants to be.

Some are positioning for a seasonal bounce, others are exiting after major red flags. This snapshot of crypto whales’ New Year’s Day moves shows where big capital is shifting next.

Chainlink (LINK)

Crypto whales started 2026 by buying Chainlink. Whale holdings rose from 505.34 million LINK on December 31 to 505.7 million LINK on New Year’s Day. That is about 0.36 million LINK added, worth roughly $4.46 million at the current price. This early whale conviction matters because January has historically been strong for LINK.

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It gained +25.3% in Jan 2025, +24.9% in Jan 2023, and +100.7% in Jan 2021. The average January move sits near +26.4%, which may explain why whales are positioning now.

Whales might be betting that this January upside trend repeats.

The LINK price chart needs to support the setup. Chainlink first needs a 2.5% lift to break $12.49, the key near-term resistance. That would open the path to $13.36 and then $13.76, which has held as resistance since December 12. Clearing $13.76 and holding it turns attention to $15.01, and a decisive break above $15 can fuel moves toward $16.77.

This bullish idea weakens if the price loses $11.71, which would challenge the January optimism that whales are front-running. If that happens, the early New Year’s Day whale accumulation starts to look like a misfire instead of a signal.

Ethena (ENA)

Crypto whales are selling Ethena (ENA) on New Year’s Day. Holdings dropped from 6.31 billion ENA on December 31 to 6.29 billion ENA on January 1. That is a reduction of 0.02 billion ENA, which is 20.0 million ENA sold. At the current price, that equals roughly $4.20 million in value, leaving whale wallets. This selling pressure shows the opposite stance from Chainlink’s early accumulation and sets a bearish tone.

That hesitation matches what is happening in fundamentals. Ethena’s TVL (Total Value Locked) has fallen from $14.98 billion on October 3 to about $6.48 billion now, which is a drop of a little over 56%. A decline of more than 50% in total money locked can signal fewer users, reduced borrowing or lending activity, and diminished trust in current conditions. This explains why crypto whales might be selling during New Year’s trading.

The ENA price chart supports the cautious sentiment. A head-and-shoulders pattern is forming, and the downward-sloping neckline shows sellers are creating lower support points.

This setup is riskier because each bounce gets rejected sooner, which often leads to faster breakdowns if support levels fail. If the neckline near $0.15 breaks, it can trigger a drop of around 25%, pushing ENA toward $0.10.

The bearish pattern keeps the risk of a drop alive even before the neckline is reached, placing the first critical level at $0.17.

Buyers do have levels that matter. A move above $0.21 starts to reduce the pressure. Reclaiming $0.30 would invalidate the head structure and flip sentiment.

Right now, the combination of whale selling, a 56% TVL decline, and a bearish chart structure explains why ENA sits on the sell side for crypto whales entering 2026.

Pendle (PENDLE)

Crypto whales are buying PENDLE on New Year’s Day even though the chart is flashing risk. Their holdings rose from 193.54 million PENDLE on December 31 to 194.31 million PENDLE, adding about 0.77 million PENDLE, worth roughly $1.42 million at the current price. This cautious buying stands out because PENDLE is up 7.7% in the past seven days while still sitting inside a bearish setup.

The price chart shows a bear flag forming after a 42% drop from the November 2025 peak.

Additionally, this pattern warns of continuation to the downside if support breaks. The key first line of defense sits at $1.81. Losing that level opens the path to $1.65, where a break can trigger the full flag breakdown and flip the market into a slippery slope. That is why the whale accumulation is unusual here: they are buying into breakdown risk.

There is one reason whales might be taking the risk. The Smart Money Index just crossed above its signal line, showing informed traders accumulating. Whales might just be piggybacking the smart money conviction.

If PENDLE breaks $1.94, it can test $2.31. Clearing $2.31 invalidates the bear flag and starts a momentum reset that could shift sentiment.

Right now, PENDLE has the most interesting setup of the three. Crypto whales are buying while a breakdown risk is active, and smart money is matching their conviction. If PENDLE holds $1.81 and breaks $1.94, it becomes a speculative bounce candidate. Under $1.65, the conviction loses credibility, and the bearish flag takes over.

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