Whales have been accumulating Chainlink (LINK) tokens, which has positively affected the alt’s price in the short term. However, this trend puts retail traders at risk as a negative price correction could occur. Despite the profitable nature of LINK transactions, fewer sell-offs have happened recently. The daily trading volume of LINK on exchanges has decreased, indicating a decline in exchange reserves. While whale activity has increased, general accumulation in the market may have slowed down. Key momentum indicators suggest a fall in accumulation market-wide. Nonetheless, liquidity continues to flow into the LINK market, likely through whale accumulation. This report from Santiment highlights the current situation of whales and the overall market sentiment around Chainlink.
AI Sentiment: Positive
