💥Chainlink Price Prediction: All in Favor of Whales

Chainlink witnesses whale accumulation and supply distribution backing bullish outlook
Data from crypto intelligence tracker Santiment shows that Chainlink has been accumulated by large wallet addresses since the start of the month. While wallets holding between 100 to 100,000 LINK tokens have decreased their holdings, large wallets holding between 100,000 to 1 million LINK have been accumulating the altcoin, as depicted in the chart provided.

The whale accumulation, coupled with the rise in the asset's price, reinforces a positive outlook for the altcoin.

Chainlink holders have engaged in accumulating LINK in the past two days. Chainlink’s supply has seen an increase in whale wallets and a decrease in retail investor holdings, likely to catalyze gains in the altcoin. 



According to data from Lookonchain, eight new wallets have withdrawn 831,160 LINK tokens valued at around $16.72 million from Binance within the last 48 hours. This withdrawal has led to a decrease in the amount of LINK held in exchange wallets, indicating a reduction in selling pressure. This suggests that large investors are accumulating LINK, which could potentially lead to price gains in the near to medium future.

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