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Chainlink

<div class="finbold"> 
 <p class="paragraph">Chainlink (LINK) has been trending year-over-year, fueled by the real-world assets (RWA) narrative, attracting retail investors and increasing in price. Meanwhile, Chainlink whales have apparently been decreasing their exposure to the token, likely selling their large holdings over time.</p> 
 <p class="paragraph">Finbold retrieved this whale signal through premium data from <em>Santiment</em>, tracking the U.S. dollar value from Chainlink whales. Essentially, the metric considers a whale any address holding over $2 million in sight of LINK’s $10 billion market cap.</p> 
 <p class="paragraph">As observed, these holdings have dropped from $550.56 million on June 4, 2023, to $464.65 million by press time. Notably, LINK was trading at $6.07 one year ago, more than doubling in price currently at $17.6. This highlights an even higher drop in whales’ holdings measured in LINK, raising a relevant <a rel="dofollow" title="signal" href="https://thebittimes.com/tag/signal.html">signal</a> to the <a rel="dofollow" title="cryptocurrency" href="https://thebittimes.com/tag/cryptocurrency.html">cryptocurrency</a> market.</p> 
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    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
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 <p class="paragraph">In contrast, Ethereum (ETH) whale balances have increased throughout these 12 months, following the year-over-year price <a rel="dofollow" title="trend" href="https://thebittimes.com/tag/trend.html">trend</a>.</p> 
 <figure class="wp-block-image size-large">
  <img decoding="async" width="1024" height="347" src="https://cdn.thebittimes.com/images/2024/06/05/437d83817a38ea6aca098a8f45dfa33d.webp" alt="" class="wp-image-181124" srcset="https://cdn.thebittimes.com/images/2024/06/05/437d83817a38ea6aca098a8f45dfa33d.webp 1024w, https://cdn.thebittimes.com/images/2024/06/05/437d83817a38ea6aca098a8f45dfa33d.webp 300w, https://cdn.thebittimes.com/images/2024/06/05/437d83817a38ea6aca098a8f45dfa33d.webp 768w, https://cdn.thebittimes.com/images/2024/06/05/437d83817a38ea6aca098a8f45dfa33d.webp 1536w, https://cdn.thebittimes.com/images/2024/06/05/437d83817a38ea6aca098a8f45dfa33d.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Chainlink (LINK) Whale USD balance non-exchange. Source: <em>Santiment</em> / Finbold (Vini Barbosa)
  </figcaption>
 </figure> 
 <h2 class="wp-block-heading" id="h-chainlink-trending-with-the-real-world-assets-narrative">Chainlink trending with the real-world assets narrative</h2> 
 <p class="paragraph">The real-world assets narrative was fueled by BlackRock’s (NYSE: BLK) growing interest in the tokenization of RWA. Interestingly, Larry Fink, CEO at BlackRock, mentioned he sees great value in tokenization, and the company is backing an investment fund within this asset class.</p> 
 <p class="paragraph">Chainlink benefits from this trend due to its leading Oracle solution, which gathers real-world off-chain data and broadcasts it on-chain.</p> 
 <p class="paragraph">However, the token LINK does not have a clear demand for the people interacting with the chain. Their most known utility is rewarding the Oracle node operators, which generates supply pressure but no market demand besides speculation.</p> 
 <p class="paragraph">So far, the speculative demand has kept the token’s value, but whales’ activity may <a rel="dofollow" title="signal" href="https://thebittimes.com/tag/signal.html">signal</a> it is not sustainable long-term. Recently, Chainlink was <a rel="dofollow" title="trend" href="https://thebittimes.com/tag/trend.html">trend</a>ing on Reddit with 545 mentions in 24 hours—highlighting retail’s interest in speculating on LINK.</p> 
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  <img decoding="async" width="1024" height="456" src="https://cdn.thebittimes.com/images/2024/06/05/2652f46278674105945ef4180e8d097c.webp" alt="" class="wp-image-181125" srcset="https://cdn.thebittimes.com/images/2024/06/05/2652f46278674105945ef4180e8d097c.webp 1024w, https://cdn.thebittimes.com/images/2024/06/05/2652f46278674105945ef4180e8d097c.webp 300w, https://cdn.thebittimes.com/images/2024/06/05/2652f46278674105945ef4180e8d097c.webp 768w, https://cdn.thebittimes.com/images/2024/06/05/2652f46278674105945ef4180e8d097c.webp 1536w, https://cdn.thebittimes.com/images/2024/06/05/2652f46278674105945ef4180e8d097c.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Trending cryptocurrencies on Reddit. Source: Finbold
  </figcaption>
 </figure> 
 <p class="paragraph">With the lack of a clear demand, hype, and social media buzz is what drive LINK’s price action. Traders who buy this token are essentially gambling in the hope that someone else will buy it at a higher price.</p> 
 <p class="paragraph">However, this behavior also highlights the inherent risk of such investments, as the market eventually runs out of willing buyers. When the hype dies down and demand dwindles, traders can remain holding worthless assets, leading to substantial financial losses.</p> 
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p> 
</div> 
<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/whales-signal-large-investors-are-selling-this-trending-rwa-cryptocurrency-tbt91545.html">https://thebittimes.com/whales-signal-large-investors-are-selling-this-trending-rwa-cryptocurrency-tbt91545.html</a></p>

Whales signal: Large investors are selling this trending RWA cryptocurrency

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