On-chain data shows whale-sized Chainlink wallets have reached a new all-time high (ATH), a sign that big-money interest has been flowing into the network.<\/p>\n
According to data from on-chain analytics firm Santiment<\/a>, Chainlink has seen large wallets reach a new record. The indicator of relevance here is the \u201cSupply Distribution<\/a>,\u201d which tells us about the total number of addresses that belong to a particular address group.<\/p>\n Wallets or investors are divided into these cohorts based on the number of tokens that they are carrying in their balance. For example, the 1 to 10 coins group includes all addresses holding between 1 and 10 LINK. In the context of the current topic, the range of interest is the one with a lower bound at 100,000 LINK and no upper limit.<\/p>\n At the current exchange rate, the cutoff for the range converts to $957,000, which is a significant amount. Thus, the only investors who would qualify for the group will be the big-money entities like the sharks and whales<\/a>. Such holders can carry some degree of influence on the network so their behavior can be worth keeping an eye on.<\/p>\n Below is the chart shared by Santiment that shows how the Supply Distribution has changed for these Chainlink investors over the past few months.<\/p>\n As is visible in the graph, the Chainlink wallets with 100,000 LINK or more have witnessed a rise in the indicator during the last couple of months. This suggests that the population of big-money investors on the network has grown.<\/p>\n More specifically, the Supply Distribution of the LINK whales has increased by 8.2% over the last seven weeks, a notable figure. Interestingly, this inflow of large investors into the network has arrived while the cryptocurrency has followed an overall trend of sideways movement.<\/p>\n Currently, there are 805 wallets holding at least 100,000 LINK, which is a new ATH. \u201cKey stakeholders are showing bullishness toward the #16 market cap in crypto,\u201d noted Santiment. It now remains to be seen whether the optimism from the LINK whales will end up reflecting on the cryptocurrency\u2019s price.<\/p>\n While Chainlink has witnessed a trend of accumulation, Bitcoin<\/a> has observed distribution from its large hands instead. As analyst Ali Martinez has highlighted in another X post<\/a>, the supply of the BTC whales registered a decline recently.<\/p>\n From the chart, it\u2019s apparent that the Bitcoin whales sold 18,447 BTC between the 18th and 21st of this month, worth approximately $1.41 billion.<\/p>\n At the time of writing, Chainlink is trading around $9.57, unchanged from one week ago.<\/p>","protected":false},"excerpt":{"rendered":" On-chain data shows whale-sized Chainlink wallets have reached a new all-time high (ATH), a sign that big-money interest has been flowing into the network. Chainlink Wallets With At Least 100,000 LINK Have Set A New Record According to data from on-chain analytics firm Santiment, Chainlink has seen large wallets reach a new record. The indicator […]<\/p>\n","protected":false},"author":0,"featured_media":171085,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-171084","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/171084"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=171084"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/171084\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/171085"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=171084"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=171084"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=171084"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}LINK Price<\/h2>\n