Chainlink Whales Pile into Altcoin as Network Growth Surges

Crypto analyst Ali Martinez has observed that whales are continuing to accumulate Chainlink (LINK) tokens. According to data shared by Martinez, large investors have purchased over 2.5 million LINK in the last 10 days, indicating continued buying interest from big players.

The analyst notes that growth on the Chainlink network is also supporting demand, with approximately 1,500 new LINK addresses being created daily. This steady expansion of the user base is seen as a significant indicator of adoption and has been a key factor in past strong price rallies for the token.

According to Martinez, if current demand continues, the first significant resistance zone for LINK will be around $16. On-chain data shows that approximately 16.9 million LINK were previously purchased at this level. If this price is surpassed, $17.70 could emerge as a stronger resistance, with approximately 22.7 million LINK accumulated in this price range.