On-chain data shows growing big-money interest in Chainlink as whale-sized wallets hit a new record high.
Analytics firm Santiment reports that the number of wallets holding at least 100,000 LINK has climbed to an all-time high of 805 addresses. That 100,000-LINK cutoff equals roughly $957,000 at current prices, meaning this cohort is made up of institutional players, high-net-worth holders and other “whale” accounts that can move meaningful amounts of supply. Santiment’s Supply Distribution metric—tracking how many addresses sit within specific token-balance bands—has risen by 8.2% over the past seven weeks for this group, illustrating steady accumulation even as LINK’s price has traded largely sideways.
Santiment highlighted the development on X, noting: “Key stakeholders are showing bullishness toward the #16 market cap in crypto.” The firm also shared a chart showing the recent uptrend in large-holder participation over the past few months.
The timing is notable: while Chainlink sees concentration among large wallets, Bitcoin has experienced the opposite trend. Analyst Ali Martinez flagged a recent wave of BTC distribution, reporting that Bitcoin whales offloaded about 18,447 BTC between April 18 and April 21—roughly $1.41 billion at the time—suggesting rotation or profit-taking among major BTC holders.
At the time of writing, LINK trades around $9.57, essentially unchanged from a week ago. The increase in whale holdings signals growing conviction among big holders, but whether that accumulation will translate into sustained upward price pressure remains uncertain. As always, on-chain flows provide useful context but are only one piece of the market picture.
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