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 RecordWallets 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.
Below is the chart shared by Santiment that shows how the Supply Distribution has changed for these Chainlink investors over the past few months.
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.
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.
Currently, there are 805 wallets holding at least 100,000 LINK, which is a new ATH. “Key stakeholders are showing bullishness toward the #16 market cap in crypto,” noted Santiment. It now remains to be seen whether the optimism from the LINK whales will end up reflecting on the cryptocurrency’s price.
From the chart, it’s apparent that the Bitcoin whales sold 18,447 BTC between the 18th and 21st of this month, worth approximately $1.41 billion.
LINK PriceAt the time of writing, Chainlink is trading around $9.57, unchanged from one week ago.
