Chainlink is rising rapidly – ​​whales are striking in a big way

Chainlink (LINK) is popular with many in the crypto community and has had quite a good year. On the last day, the price of LINK did good business again and increased by double digits. At the same time, significant developments are visible behind the scenes; A particular whale (a term for a major player in the crypto market) has accumulated huge amounts of LINK and the number of LINK holders is still growing. What could this mean for the future of this cryptocurrency?

Whale on a shopping expedition

The last few days have seen a significant increase in activity around Chainlink, particularly from one whale wallet that has been aggressively accumulating LINK tokens. According to Lookonchain, this wallet has accumulated an impressive 4,556,684 LINK tokens with an estimated value of approximately $83.6 million in just three days. This accumulation is notable not only because of its size, but also because it indicates the expectation of price increases in the near future.

Another important aspect that underlines the growing interest in Chainlink is the increasing number of LINK holders. Data from Santiment shows that the number of LINK holders has been steadily increasing in recent months, with about 9,000 new holders, bringing the total to 717,000.

An interesting trend that runs parallel to the accumulation is the decline of LINK shares on the stock exchanges. It appears that a significant portion of LINK shares are being withdrawn from exchanges in anticipation of a possible price recovery. Currently, only 21.5% of the total LINK inventory is available on exchanges. Stock market exhaustion is often seen as a signal that significant price increases are imminent. We will soon find out whether this is the case.

Price development and recent increase

This morning, LINK once again managed to rise above the important $20 mark. At the time of writing, LINK is also still above $20. This is a particularly important increase and clearly shows that investors have great confidence in the altcoin.

Combined with positive signals behind the scenes, this raises suspicions that Chainlink has more to offer in the future.

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