Major Chainlink investors continue to increase their holdings, indicating confidence in the market. At the same time, new partnerships may strengthen the project's position in decentralized finance.
Whale Accumulation of Chainlink
Large addresses holding between 100,000 and 1 million LINK have accumulated 85 million tokens in total. This marks the highest level of accumulation since late 2022, underscoring the confidence major holders have in Chainlink's future.
Current LINK Price Dynamics
Currently, LINK is priced at $13.48, down 2.4% in the last 24 hours and 7% over the past month. The token has traded within a range of $12.76 to $13.96, indicating a consolidating phase. Key resistance levels are at $14.11, while support is at $13.08.
Strategic Partnerships and Their Impact
Recent partnerships, such as the collaboration with Mastercard, will support crypto purchases for over 3 billion cardholders. Additionally, Chainlink has been named the official oracle provider for the xStocks Alliance, which enhances its role in tokenized assets.
The ongoing accumulation by whale investors and new partnerships highlight the increasing interest and potential of Chainlink in decentralized finance, while the token price remains in a consolidation phase.
