The post Chainlink Price to Get a Boost Amid Whale Accumulation? appeared on BitcoinEthereumNews.com.

Chainlink (LINK) price demonstrated a powerful recovery by rising 13% following its Tuesday low of $13.18. LINK demonstrated resilience by recovering to $15.25 after the market-wide cryptocurrency downturn, which affected various digital assets. According to on-chain data from Santiment, the price movement of Chainlink matches an increase in major holder accumulation. Top 5 Wallets Now Control 18.15% of LINK Supply The market dynamics of Chainlink show a clear trend where top holders are accumulating an increasing amount of LINK supply. The five largest wallets currently possess 18.15% of the total circulating LINK supply, which has a combined value of $2.93 Billion. Large investors who are known as whales and institutions have been steadily accumulating LINK because they believe the asset will experience long-term growth. Binance’s centralized exchange wallet stands as the leader among top wallets by holding $50.59 Million worth of LINK, which elevates its total LINK-related value to $817 Million while representing 5.06% of the total supply. A non-exchange wallet ranks as the second-largest LINK holder with $40.87 Million worth of LINK that amounts to $660 Million and represents 4.09% of the total supply. Three non-exchange wallets collectively hold $90 Million worth of LINK tokens which amounts to $1.45 Billion in total value while each wallet controls 3% of the circulating supply. Chainlink Top 5 Largest Wallet Holding Source: Santiment The wallets tracked by Santiment show an upward trend in their LINK holdings, which suggests accumulation activities instead of distribution activities. Large investors demonstrate their market confidence through accumulation strategies during price dips because they expect future price appreciation. The ongoing accumulation trend by LINK whales could push prices higher as supply will become more scarce. LINK’s trading volume volatility creates the possibility of a price retracement when unexpected macroeconomic changes or external market factors occur. Chainlink (LINK) Price Faces Mounting…

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Filed under: News - @ March 6, 2025 2:23 pm