July 25, 2021

Newspay

Bitcoin & Ethereum Blockchain News

Crypto Whales Now Hold 10% Less LINK than in December 2019, Here's Why

According to data shared by Santiment analytics supplier, the amount of LINK held by Chainlink whales since December 2019 has declined 10 percent.

Source: u.today

Here’s the reason why.

Image via Twitter

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.

Image via Twitter

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 $19.32on 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.

Image via CoinMarketCap