On-chain data reveals that the largest Chainlink whales have been accumulating more tokens recently, even as the price of LINK has fallen below $13.00.
Top 100 Chainlink Whales Are Growing Their Holdings
In a new post on X, the on-chain analytics firm Santiment highlighted a trend among the 100 largest addresses on the Chainlink network. This group includes major whales—investors holding amounts large enough to potentially influence the market. Tracking their combined holdings can provide valuable insights.
The chart shared by Santiment shows the trend in the supply held by these top 100 addresses over the past few months. As illustrated, their holdings increased in November while LINK’s price was falling, suggesting that large investors were buying the dip. These whales reduced some of their holdings in December and early January but have recently resumed accumulation as LINK dropped below $13.00.
Compared to early November, this group’s holdings have grown by 16.1 million tokens. Santiment noted, “As retail sells off due to impatience and FUD, it’s common to see smart money gather up more $LINK to prepare for (or cause) the next pump.” Whether this accumulation will impact the cryptocurrency’s price remains to be seen.
Chainlink isn’t the only asset seeing activity from large investors. As Santiment pointed out in another post, Bitcoin sharks and whales—defined as addresses holding between 10 and 10,000 BTC—have been net buyers over the past nine days.
The chart below shows how the supply held by these Bitcoin investors has changed since late July. Over the last nine days, their combined holdings have increased by 36,322 BTC, a rise of 0.27%. Notably, these large investors have continued to hold despite Bitcoin’s recent price pullback.
In contrast, retail investors—addresses holding less than 0.01 BTC—have reduced their holdings by 132 BTC (0.28%) during the same period.
LINK Price
At the time of writing, Chainlink is trading around $12.33, down over 10% in the past week.
Frequently Asked Questions
Frequently Asked Questions About Chainlinks Price Drop Major Investor Activity
BeginnerLevel Questions
Q1 What is Chainlink
A1 Chainlink is a decentralized network that connects smart contracts to realworld data such as stock prices weather or payment systems Its a key piece of infrastructure for many blockchain applications
Q2 Why did Chainlinks price drop to 1250
A2 Cryptocurrency prices are volatile and influenced by many factors including overall market sentiment broader economic conditions profittaking by traders or temporary concerns about specific projects A drop doesnt necessarily reflect a problem with Chainlinks technology
Q3 Who are the major investors buying more
A3 These are typically largescale investors like hedge funds venture capital firms or wealthy individuals Their increased buying during a dip can signal they believe the asset is undervalued and has strong longterm potential
Q4 Should I buy Chainlink now because big investors are
A4 Not necessarily While their activity can be a positive signal its not financial advice Major investors have different goals risk tolerance and information than most individuals Always do your own research and invest only what you can afford to lose
Q5 Is Chainlink in trouble if the price is falling
A5 A falling price in the short term doesnt mean the project is failing Chainlinks fundamental value is tied to its adoption and use in the blockchain ecosystem which remains strong Price and project health are related but different things
Intermediate Advanced Questions
Q6 What does accumulation by whales mean in this context
A6 It refers to large investors steadily buying a significant amount of LINK tokens often during price dips to build a larger position at a lower average cost This can be seen as a strategy of buying the dip based on a longterm bullish outlook
Q7 Could this be a dead cat bounce or a sign of a true reversal
A7 Its impossible to know for sure A dead cat bounce is a temporary recovery before a continued decline A true reversal starts a new uptrend Only time and sustained buying pressure along