- Whale wallets added ~9M LINK since late June, boosting holdings to 175.91M as price jumped from $13.33 to $18.67.
- Exchange outflows peaked at $5M on July 18, indicating reduced sell pressure and rising investor confidence.
- 77% of LINK holders have held for over a year, showing strong long term conviction in the asset growth potential.
A steady accumulation of Chainlink (LINK) by large holders has coincided with a sharp rise in its price. Between late June and July 18, whale wallets holding 100,000 to 1,000,000 LINK increased their combined holdings from approximately 166.91 million to 175.91 million.
During the same period, LINK’s price surged from around $13.33 to the current price of $18.67, indicating a strong relationship between whale behavior and market performance. This upward trend began after a brief price dip in June, which saw LINK fall to $11.54.
Whale Holdings and LINK Recoveries from June Lows
Between April 17 and mid May, LINK’s price topped near $16.92 while whale wallets accumulated up to 176.69 million LINK. However, both metrics declined afterward, with LINK dropping to $11.54 and whale holdings falling to around 165.28 million.
This downtrend reversed in late June as LINK rebounded, supported by renewed accumulation. By July 18, whale holdings nearly returned to their May peak, suggesting a coordinated re entry into the market.
The steady rise in whale balances aligned with a strong price rally, adding to the observed pattern. The growth in both price and holdings indicated focused accumulation during the recovery phase, with minimal signs of large scale distribution.
Exchange Outflows Indicate Reduced Sell Pressure
Exchange netflows had outflows between July 10 and July 20. This pattern pointed to notable LINK withdrawals, especially visible from July 15 to July 20, when multiple 2 hour intervals saw over $4 million in outflows.
On July 18, outflows exceeded $5 million. This behavior often shows investors transferring assets to private wallets, reducing immediate selling pressure on exchanges. A brief inflow spike occurred between July 17 and 18, peaking above $5 million, which may suggest profit taking or repositioning.
LINK price increased fast from around $16.00 to $19.00 following this activity. Despite this short term inflow, the larger trend favored outflows, supporting the prevailing accumulation narrative.
Large Holders Dominate While Long Term Holding Grows
Chainlink on-chain data shows 66% of LINK holders are in profit, with 66% of the supply concentrated in large wallets. Additionally, 77% of holders have kept their tokens for over a year, while only 3% have held for under a month. This shows a strong long term investor base.
The 7 day volume of large transactions are at $974.5 million, with 52% of transaction activity originating from Western regions. Meanwhile, Telegram group membership slightly declined by 0.11%, and netflows for the same period recorded a $21.81 million outflow, maintaining the broader accumulation trend.
Chainlink rising price, growing whale activity, and reduced exchange presence outline a focused accumulation phase. The mix between these metrics suggests persistent investor engagement, driven by short term flows and long term holding behavior.
