Chainlink holders have continued to accumulate LINK in a manner that shows their confidence in the long-term future of Chainlink price

Despite the recent sell-off from $13.27 to $12.15, LINK bulls remain in control of the daily uptrend. Chainlink price established a higher high at $14.56 and a higher low at $12.31 compared to previous levels. But at press time, due to market influence, LINK was down almost 3% on the day, trading around $ 11.85. Meanwhile, in another development, the number of ChainLink whales with 10 million or more LINK has increased from 9 to 10.

chainlink-holders-have-continued-to-accumulate-link-in-a-manner-that-shows-their-confidence-in-the-long-term-future-of-chainlink-price

LINK/USD 4-hour chart | Source: TradingView

The number of ChainLink whales with 10 Million or more LINK has increased from 9 to 10, affect Chainlink price?

According to Santiment, Chainlink investors are being honest with their reputation. Furthermore, there is no evidence of an investor’s investment as the crypto market is affected by Bitcoin pumping. The team at Santiment shared their observations of ChainLink investors through the following statement.

Furthermore, Chainlink’s percent of supply sitting on exchanges is down to 7.1%, the lowest supply amount on exchanges since its ICO in September 2017. Additionally, the single largest daily move off exchanges (0.14%) of $ LINK’s supply since November 9th.

Overall, Chainlink holders have continued to add their LINK pockets in a way that demonstrates their confidence in the project’s long-term future.

According to the chart shared below, the continuous accumulation of ChainLink by the LINK marines.

chainlink-holders-have-continued-to-accumulate-link-in-a-manner-that-shows-their-confidence-in-the-long-term-future-of-chainlink-price

In terms of value, ChainLink has once again found proper support in the $ 12 price zone. Earlier today, ChainLink (LINK) fell to as low as $ 11.80 due to a sell-off across all cryptocurrencies before rebounding above $ 12. At press time, Chainlink is trading at $ 12.30 in a shaking cryptocurrency market brought on by volatile Bitcoin.

To summarize technical analysis, ChainLink’s short-term fate – like most altcoins – is heavily tied to Bitcoin. If the King of Crypto moves strongly in either direction, Chainlink will be affected in a negative direction. Hence, the wait and see approach is recommended for Chainlink speculators at least until the Bitcoin futures and options expire later this week.

You can see the LINK price here.

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