- The total number of LINK active addresses was more than 47,000.
- The link was at present in the direction of a bull.
In the past, Chainlink [LINK] has always attracted the attention of whale investors, especially during times of high volatility in prices.
Recent data suggests that this trend is continuing in the form of the boost of whales over the past couple of weeks. In spite of this increase in whale activity, however, the number of active Chainlink addresses has remained constant.
Chainlink whales go on a frenzied spree.
According to data from Lookonchain, recent weeks have witnessed significant activity from Chainlink Holders, specifically from whales or institutional investors.
The information revealed that 93 wallets have collectively taken approximately 12.75 million LINK tokens out of Binance on June 24.
Furthermore, they are valued at approximately $167 million.
The significant withdrawal of funds from the exchange is a sign of an aggressive strategy by these massive holders, which reflects their trust in LINK or is a reaction to market circumstances.
Link supplies for whales rise.
The study of Chainlink whale addresses, similar to data from Santiment and Sentiment, has revealed a significant shift in the distribution of holdings between the largest investors.
In particular, addresses with between 10,000 and 100,000 LINK tokens have grown from 2,946 to 2,987 as of July 1.
In the same way, wallets with between 100,000 and one million coins have increased by 451 percent to 499 during the same time frame.
In the past two weeks, the total amount that these addresses hold has increased by about $120 million. This can have an impact on the market because larger holders could impact the stability of price and liquidity.
Chainlink active addresses remain in place.
Despite the significant changes and activity in whale wallets on Whale wallets in the Chainlink chain, the total amount of active addresses has maintained a steady increase.
Based on a 30-day study of Santiment, there was an absence of significant increases in active addresses during the last few weeks.
At the start of this month, the total number of addresses active was around 48,817. However, according to the most recent data, the number is around 47,686.
The relative stability suggests that the improvement in whale activity hasn’t necessarily resulted in wider market participation.
It has also not resulted in a new entry to the Chainlink market.
It appears instead that participants who are already in the market are changing their portfolios, which could suggest strategic changes but not an increase in the number of users.
LINK was trading at about $13.7 at the time of writing, which is a boost of 2%.
