Momentum

Chainlink

Chainlink<a href="https://yellow.com/asset/link" rel="noopener noreferrer nofollow">(LINK)</a> whales holding between 100,000 and 10 million tokens added 32.9 million LINK over the past month, lifting their collective <a href="https://yellow.com/news/chainlink-oracle-demand-lifts-link-5-percent" rel="noopener noreferrer nofollow">balance to a record high</a>.<h2 id="santiment-whale-data">Santiment Whale Data</h2>The accumulation was <a href="https://x.com/SantimentData/status/2052471339361947698" rel="noopener noreferrer nofollow">flagged</a> by on-chain analytics firm Santiment in a May 7 post, and reported by NewsBTC the next day. The firm said the cohort grew its holdings by 7.7% in 30 days.<blockquote>That tier sits between casual retail buyers and exchange-controlled custodial wallets, which Santiment treats as a discretionary signal rather than noise.</blockquote>Coverage by Bitget <a href="https://www.bitget.com/news/detail/12560605335780" rel="noopener noreferrer nofollow">noted</a> earlier this year that the number of wallets holding more than one million LINK had already climbed 25% year over year.The chart shared by the firm shows the balance climbing steadily into early May, even as LINK traded in a muted range. CoinMarketCap data <a href="https://coinmarketcap.com/cmc-ai/chainlink/latest-updates/" rel="noopener noreferrer nofollow">shows</a> LINK posted a 3% gain on May 4 alongside the opening of the Consensus 2026 conference.Also Read:<a href="https://yellow.com/news/aave-liquidates-kelp-dao-hacker-rseth" rel="noopener noreferrer nofollow">Aave Wipes Out Hacker Collateral As $293M Kelp DAO Recovery Nears Finish</a><h2 id="supply-squeeze-signal">Supply Squeeze Signal</h2>Santiment framed the move as the early formation of a classic supply squeeze, with liquid exchange supply under growing pressure as tokens shift to long-term wallets. The firm called the cohort Chainlink's most active and committed group of holders.<blockquote>Historical patterns cited by the firm suggest this tier tends to buy ahead of price moves rather than chase them.</blockquote>Independent on-chain coverage on MEXC <a href="https://www.mexc.com/news/983104" rel="noopener noreferrer nofollow">pointed</a> to a parallel rise in wallets holding at least 1,000 LINK, which reached 25,420 in early 2026.The conditional nature of Santiment's call matters here. A squeeze only matters if fresh demand shows up, and the firm tied any acceleration to broader Bitcoin<a href="https://yellow.com/asset/btc" rel="noopener noreferrer nofollow">(BTC)</a> momentum holding firm.<h2 id="link-price-context">LINK Price Context</h2>LINK changed hands near $9.86 at the time of the Santiment update, well below its all-time high of $52.70. The token shed roughly 40% over the prior 30 days, according to data on Blockchain Magazine, before stabilizing in the $8 to $10 zone that has acted as multi-year support.A breakout above $10 would open a path toward the $12 resistance, while losing $8 would invalidate the accumulation thesis. On April 27, a single-day exchange outflow of 970,430 LINK was recorded, reinforcing the broader withdrawal trend now feeding into the whale tier.Read Next:<a href="https://yellow.com/news/ethereum-derivatives-flip-positive-2400" rel="noopener noreferrer nofollow">Ethereum Targets $2,400 As Binance Futures Momentum Turns Bullish</a>

Chainlink Whales Quietly Pocket 32.9M LINK In 30 Days, Hitting All-Time High

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