According to data shared by Santiment analytics supplier, the amount of LINK held by Chainlink whales since December 2019 has declined 10 percent.
Here's the reason why.
Retail LINK holders flowing in
The amount of LINK owned by crypto whales has slumped from 70.7 percent of the total coins in circulation to 64.5 percent.
The analytics data provider pointed out that this is not due to whales making any sales, no. Rather, new LINK addresses are being created all the time as retail users are flowing into the ecosystem.
The supply of LINK bought by retail LINK investors has grown significantly throughout the year.
More LINK being sent to exchanges: 102 percent rise
As per the tweet posted by another popular analytics generator, Glassnode, LINK exchange inflow (2-day MA) has showed a significant rise over the past 24 hours: a whopping 102.5 percent surge.
This metric value now represents 103,127.608 LINK.
Chainlink fails to reach new ATH so far
Earlier this year, LINK reached an all-time high of $19.32—on Aug. 16. After that, the coin printed a sharp decline and, since then, it has been unable to recover to the ATH level or exceed it yet.
At press time, LINK is trading at $11.67. Chainlink is one of the most popular DeFi platforms that is based on the Ethereum chain.