IntoTheBlock analytical team, which studies on-chain processes through machine learning techniques, has disclosed the holdings of top-tier Chainlink (LINK) wallets. It seems that whale-driven accumulation is in a dangerous phase.
Marines and admirals
In its recent tweet, the IntoTheBlock team noticed that the nine richest Chainlink (LINK) wallets are responsible for almost 66 percent of its curculating supply. Out of these wallets only one demonstrated signs of activity—and it is only eighth by volume.
The top nine wallets are accompanied by another influential group, "investors." The "investors" group consists of 52 wallets with 14.34 percent of the Chainlink (LINK) supply. The correlation between activity and size of account holding is similar in both groups.
The higher account value, the less activity it demonstrates. Thus, the tendency is obvious: the richest LINK owners are holders with very strong hands.
As a result, the "whales" group allocated almost 660 million LINK so far ($14.5 billion), while the "investors" group is responsible for 143.4 million LINK ($3.14 billion).
Whales are confident whatever the price
Meanwhile, with the recent LINK upsurge above the all-time high and a new price record at $23.76, Chainlink (LINK) surpassed Bitcoin Cash (BCH) by market capitalization and broke into the top eight on CoinMarketCap.
The impressive confidence of Chainlink (LINK) whales was noted by numerous analysts in 2020.
As covered by U.Today previously, Santiment on-chain researchers reported that the top 100 non-exchange Chainlink (LINK) wallets increased their positions during the entirety of 2020.