Chainlink (LINK) community raises concerns about recent whale-driven movements
As Chainlink whales - the largest on-chain accounts with huge LINK balances - are moving funds and might be selling their riches step by step, the community of"LINK marines" has turned pessimistic. However, some community enthusiasts are certain that the narratives about whale-driven selling are just regular FUD.Since mid-June, the activity of whales' accounts holding LINK tokens skyrocketed.
Enraged Crypto Twitter speakers raised concerns about the potential bearish prospects for the Chainlink price in the short term: The desperation is palpable. $12 isn't going to hold as support again. $5 might bounce or grind sideways for a while. What happens when you aren't able to dump millions and millions of tokens on the open market to support operations? Why do you run ads? What’s the purpose? More retails to dump your premined tokens?
However, the opponents of pessimistic holders stressed that the project is following its roadmap, and whale-driven movements are not unknown to LINK. In the past 30 days, the price of Chainlink dropped by 23.17%. The token's capitalization erased about $3 billion and reached multi-week lows.At the same time, Chainlink services are being integrated by more and more services. During the last seven days, it arrived on protocols on seven large EVM networks, including Ethereum , Arbitrum , Base , Mode and Scroll.
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