Chainlink Whales Increase Holdings by Over 32 Million LINK
- Chainlink’s key stakeholders, holding between 100K-10M LINK, have increased their holdings by a total of 32.93 million LINK over the past month.
- This accumulation marks a +7.7% increase in holdings for this cohort.
- The buying activity occurred while LINK traded within a relatively stable range, not during a breakout.
- Santiment suggests that this accumulation could indicate an impending supply squeeze if market conditions remain supportive.
The recent increase in LINK holdings by large stakeholders is significant as it suggests strong conviction among these holders, even when price action is subdued. This behavior contrasts with retail investors who typically follow momentum rather than lead it.
With an additional supply of over 32 million LINK moving into committed hands, the liquid supply on exchanges is under pressure, potentially leading to greater price impacts from new demand if bullish market conditions persist. (Source)
