On-chain data indicates that the top 100 whales on the Chainlink network have resumed accumulating LINK, reversing their earlier selling trend. According to analytics firm Santiment, these major addresses—defined as the 100 largest wallets on the network—began increasing their holdings in early November after a period of distribution throughout October.
The chart shared by Santiment shows that the combined supply held by these top wallets declined in October as LINK’s price experienced a sharp drop. However, this trend reversed at the start of November, with the whales collectively adding 20.46 million tokens (worth approximately $263 million) to their balances. This accumulation has not only offset the October sell-off but has pushed their total holdings to a new high.
While the overall trend since November has been one of accumulation, the pace of buying has slowed in December compared to the previous month. The market is now watching to see whether these large investors will continue to accumulate and what impact this might have on LINK’s price.
In other news, analyst Ali Martinez recently pointed out that Chainlink has broken below a multi-year technical support level. After two successful tests of this line in early 2025, LINK failed to hold it during the latest downturn, dropping below it for the first time since 2023. A subsequent retest from below was rejected, suggesting the former support may now act as resistance.
At the time of writing, LINK is trading around $12.96 following its recent decline.
Frequently Asked Questions
FAQ Chainlink Large Holder Strategy Shift
Beginner Questions
1 What does it mean that Chainlinks largest holders shifted their strategy
It means that the wallets holding the most LINK tokens have changed how they manage their investment moving from potentially selling or holding steady to actively buying a large amount more
2 What exactly did they do
They discreetly purchased an additional 263 million worth of LINK tokens adding to their existing holdings
3 Why is this news significant
Large concentrated buying by major holders can signal strong confidence in Chainlinks future It can impact the tokens price liquidity and overall market sentiment
4 Who are these largest holders
They are typically anonymous cryptocurrency wallets known to hold vast amounts of LINK They could represent investment funds early project contributors or other institutional entities
5 How do we know about this purchase if it was discreet
While the transactions themselves are public on the blockchain they were likely spread across many transactions or wallets to avoid immediately triggering major market alerts until analysts pieced the data together
Intermediate Market Impact Questions
6 What might this strategy shift indicate about their view of Chainlink
It often indicates they believe the token is currently undervalued or that they anticipate positive future developments that will increase its price
7 Could this be a form of market manipulation
While large buys can influence price a strategic accumulation is a common investment practice However its always wise to be cautious as pump and dump schemes are a risk in crypto The discreet nature suggests a longterm accumulation strategy rather than a shortterm pump
8 How does this affect the average LINK investor or holder
Positively It can boost confidence and potentially lead to price appreciation
Negatively It increases concentration meaning a few large holders have more power to influence the market if they decide to sell later
9 Does this make LINK more or less decentralized
Technically it makes it