Chainlink Whales Accumulate $13M as Infrastructure Developments Continue
Chainlink's (LINK) token price has been lagging behind its impressive infrastructure developments. In July, LINK accumulated over $13 million in a single wallet through several Binance transfers, with whales buying up over 14 million tokens in less than a month.
The on-chain data indicates that this accumulation is happening across multiple investor categories, not just driven by a single actor. This is supported by Santiment data showing that LINK added more than 8,000 non-empty wallets in five days, pushing the total holder count to 892,800.
Analysts point out that wallet growth at prices near local lows typically signals accumulation rather than speculation, which historically precedes a recovery. The combination of large individual whale purchases and broad retail wallet expansion happening simultaneously is a strong indication of accumulation.