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- Chainlink gains 49% over the past year as whales accumulate $40 million in LINK, yet faces resistance near $25.
- Chainlink maintains its stronghold, securing 475 protocols and $58 billion in TVS, representing over 62% of the market.
Recent on-chain data from Santiment has revealed a substantial accumulation of Chainlink (LINK) by whales, suggesting renewed confidence and long-term optimism for the decentralized oracle network.
Over the past year, the number of major LINK holders, wallets containing between 100,000 and 1 million tokens, has steadily increased.
These large wallets have collectively accumulated approximately 40 million LINK over the past 12 months, representing a 28% increase in holdings and the addition of 103 new addresses to this cohort. The pattern of accumulation has not only persisted but intensified across multiple shorter time frames.
In the past six months, whales added 12.9 million LINK, a 7.6% rise, accompanied by 30 new addresses. The trend with an additional 8.7 million tokens accumulated, a 5% increase, and five new addresses, while the last month alone saw 2.8 million LINK added, a 1.6% surge, and one new whale address.
Notably, a post from crypto analyst Ali Martinez highlights an even sharper short-term uptick, as whales have acquired roughly 13 million LINK in just the past week.
Whale accumulation is often viewed by analysts as a bullish indicator, reflecting insider conviction in the long-term value of the asset. Historically, such behavior has preceded price rallies in several major cryptocurrencies, as large investors typically position themselves ahead of anticipated growth cycles.
The accumulation trend in Chainlink suggests that market participants view the token’s current price levels as an attractive entry point ahead of potential network or ecosystem developments.
Chainlink derivatives data shows that trading volume has dropped by 31.6%, now valued at $1.69 billion. However, open interest, the total number of outstanding futures and options contracts, has inched up by 1.38% to $656.9 million. This slight rise in open interest amid lower volume suggests that traders are adopting a more patient or long-term stance.
The project’s Total Value Secured (TVS), a key metric representing the total value of assets secured by Chainlink’s oracle services, stands at an impressive $58.892 billion. Additionally, Chainlink maintains a dominant 61.98% market share within Aave V3, one of the largest decentralized lending platforms in the ecosystem.
Currently, LINK is trading at $17.58, marking a 2.77% increase over the past week. Despite the uptick, the token remains 66% below its all-time high. Trading volume has decreased by 28% to $872 million with a market capitalization of $11 billion.
Chainlink Expansions
Since its launch in 2020, Polymarket has grown into one of the leading crypto-powered prediction platforms. Recently, the company introduced a new 15-minute cryptocurrency prediction market, using Chainlink’s decentralized oracle network to guarantee transparency, security, and protection against manipulation.
This new feature lets users place short-term bets on the price movements of major cryptocurrencies, buying “yes” or “no” shares priced between $0 and $1, depending on their predictions.
At the same time, Chainlink has been expanding its presence through partnerships. The network has collaborated with SWIFT and the Depository Trust and Clearing Corporation (DTCC) to help connect traditional finance systems with blockchain technology.
Additionally, Chainlink Labs is collaborating with the U.S. Department of Commerce to bring government datasets on-chain, a project that will enhance the integration of real-world data into blockchain applications.
