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- Chainlink rebounds 13% as large holders accumulate, signaling strong market confidence and potential future expansion.
- Top five $LINK wallets now control 18.15% of supply, reinforcing strategic positioning and sustained accumulation trends.
- Technical indicators suggest bullish sentiment, with historical accumulation patterns hinting at a possible upward trend.
Santiment reports that Chainlink ($LINK) has rebounded 13% following a sharp decline, signaling strong market activity. The price dropped to $13.18 before bouncing back to $15.25. Market volatility remains high, with accumulation by large wallets. The top five holders now control 18.15% of the total $LINK supply, valued at $2.93 billion.
Market Recovery and Large Holder Confidence
The recent price action indicates a market-wide correction, with Chainlink showing resilience. Large holders continue accumulating $LINK, reinforcing confidence in long-term stability. With 50.59 million $LINK, or $817.07 million, the largest wallet contains 5.06% of the whole supply. At $660.14 million, the second-largest wallet is in possession of 40.87 million $LINK. Three additional wallets each hold 30 million $LINK, amounting to $484.50 million per wallet.
This concentration among top wallets suggests strategic positioning. Besides, these holders have consistently increased their stakes during price dips, influencing the overall market structure. Consequently, their confidence hints at potential price expansion in the future.
Technical Indicators and Market Sentiment
Chainlink’s data from September 4, 2024, to March 4, 2025, shows phases of expansion and correction. The Ichimoku Cloud indicator signals an overall bullish sentiment, highlighting sustained accumulation trends.
Source: Santiment
Price action reveals a steady climb until late January 2025, followed by a sharp decline in February. However, within eight hours, the market rebounded by 13%, indicating strong demand at lower levels. Moreover, top wallets showed no signs of major sell-offs, further strengthening market confidence.
Historical data suggests that accumulation phases often precede upward trends. If this pattern continues, Chainlink could enter another expansion phase. Additionally, the presence of centralized exchanges and liquidity pools among the top holders ensures a balanced distribution.