Chainlink Sees Surge in Whale Accumulation as Network Growth Continues

Crypto analyst Ali Martinez has observed that large investors are continuing to accumulate Chainlink ($LINK) as part of their investment strategy. According to data shared by Martinez, over 2.5 million $LINK have been purchased in the last 10 days.

This significant buying interest from whales is further supported by growth on the Chainlink network, with approximately 1,500 new $LINK addresses being created daily. The steady expansion of the user base is seen as a key indicator of adoption and has previously contributed to strong price rallies in the asset.

As demand for Chainlink continues to rise, analysts are looking at potential resistance zones. According to on-chain data, if $LINK were to break through its current resistance around $16, it could reach a stronger resistance level of $17.70. This is because approximately 22.7 million $LINK were previously accumulated in this price range.