Chainlink (LINK) Whales Accumulate 20.46 million LINK Since November

• Chainlink’s (LINK) top 100 wallets added 20.46 million LINK ($263M) since November.
• Santiment data shows whales have shifted from distribution back to accumulation.
• Reduced liquid supply could support price stability if demand strengthens.

Chainlink (LINK) has again made headlines in the crypto market, with new on-chain analysis indicating that large holders are accumulating large numbers of tokens. According to analytics platform Santiment, the top 100 holders of LINK tokens have accumulated a total of 20.46 million LINK, valued at around $263 million, since the start of November.

Santiment Data Highlights Whale Accumulation

From data provided by Santiment, the wallets holding the most LINK have started to again increase their holdings from the early part of November. After a distribution phase during the early part of the year, the big wallets seem to have changed strategies and are reaccumulating the coins during the correction.

In the past, such activity for large wallets has been closely monitored as it has often been followed by a period where there is less selling pressure as a result of accumulation by whales. Although this does not confirm that a price rally is imminent, it could be a sign that long-term investors find current price levels attractive.

Also Read: Chainlink (LINK) Eyes $16 and $20 Breakout While Tracking Bitcoin Market

What Whale Activity Signals for LINK

Whale accumulation patterns are not necessarily indicative of a short-term trade system because whale transactions often involve a more long-term focus. With the move of LINK from exchanges to wallets, whales could actually be looking to capitalize on future growth or a possible recovery in the overall marketplace. This process will, however, lead to a contraction in the supply of assets that are liquid.

However, as reflected in the data from Santiment, accumulation on its own does not prove to be a strong positioning indicator that leads to a specific or expected outcome in LINK’s price trends.

Chainlink’s Fundamentals Remain in Focus

In addition to price action, Chainlink (LINK) continues to find relevance as an underlying infrastructural technology for DeFi, use cases involving real-world assets, and cross-chain interoperability. Developments related to LINK’s Oracle Solutions and Cross-Chain Interoperability Protocol continue to be elements of considerable interest for long-term investors.

It may represent a vote of confidence in these fundamentals by the top wallets and not merely a speculative decision based on short-term trends.

Also Read: Chainlink Faces Short-Term Decline with Key Support at $12 and Resistance at $16