Chainlink (LINK) whales holding between 100,000 and 10 million tokens added 32.9 million LINK over the past month, lifting their collective balance to a record high.
Santiment Whale Data
The accumulation was flagged 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.
That tier sits between casual retail buyers and exchange-controlled custodial wallets, which Santiment treats as a discretionary signal rather than noise.
Coverage by Bitget noted 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 shows LINK posted a 3% gain on May 4 alongside the opening of the Consensus 2026 conference.
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Supply Squeeze Signal
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.
Historical patterns cited by the firm suggest this tier tends to buy ahead of price moves rather than chase them.
Independent on-chain coverage on MEXC pointed 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 (BTC) momentum holding firm.
LINK Price Context
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.
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