Whale accumulates $5.48 million worth of LINK, with two new wallets linked to the same entity

According to the latest news, an entity recently accumulated a large amount of LINK tokens through two newly created wallets, with a total value of $5.48 million. This behavior was detected by the on-chain data monitoring platform Onchain Lens, and the correlation between the two wallets has attracted market attention.

Accumulation Scale and Wallet Details

Specific data

The accumulation situation of the two wallets is as follows:

Background Information

Chainlink (LINK) is an established oracle project launched in 2017. It is currently ranked 13th by market cap, with a total market value of approximately $949 million. The current LINK price is $13.40, with a circulating supply of about 708 million tokens and a total supply of 1 billion tokens. According to the latest data, LINK has increased by 1.29% in the past 24 hours but has decreased by 1.25% over the past 7 days.

Behavior Analysis and Market Significance

Why use two new wallets?

The most interesting aspect of this accumulation is the use of two newly created wallets. According to common on-chain analysis logic, this approach usually has several possible reasons:

• Concealing identity: Large buyers disperse holdings across multiple wallets to avoid detection and reduce market over-interpretation of their intentions
• Risk diversification: Distributing holdings across multiple wallets to lower single-point risk
• Operational flexibility: Facilitating different trading strategies in the future

Onchain Lens judges that these two wallets are “very likely linked to the same entity,” indicating that based on on-chain footprints, the behavior patterns of the two wallets are similar enough to infer they belong to the same participant.

Relative significance of the accumulation scale

The 409,935 LINK tokens account for approximately 0.058% of the total circulating supply. In terms of proportion, this is not particularly large. However, a single accumulation of $5.48 million is still a considerable operation in the current market environment, indicating that this entity has a clear bullish outlook on LINK.

Market Impact and Follow-up Attention

Possible market signals

Large new wallets accumulating tokens are often seen as positive signals. Such behavior may indicate:

• Institutional or large investors are optimistic about LINK’s medium-term prospects
• There may be significant funds entering the market
• On-chain activity is increasing, attracting more attention

However, it should be noted that a single accumulation event is not sufficient to determine market direction; it requires a comprehensive assessment combining other on-chain indicators and market sentiment.

Directions worth monitoring

This accumulation occurred amid a recent slight decline in LINK (down 1.25% over 7 days and 2.54% over 30 days), which can be understood as large investors positioning at relatively low levels. Subsequent focus areas include:

• Whether the LINK price will find support as a result
• Whether similar large accumulation behaviors will continue
• The subsequent movements of these new wallets (whether they continue to add positions or take profits)

Summary

An entity accumulating $5.48 million worth of LINK through two new wallets reflects ongoing market optimism about LINK’s long-term value. Although the scale of this single accumulation is not huge relative to the market, such large-holder behaviors often reflect institutional sentiment. In the context of short-term pressure on LINK, this strategic positioning may signal a positive market outlook. Continued monitoring of these new wallets’ movements and whether LINK’s price can gain support from this activity is recommended.