The holdings of the top 1% of Chainlink addresses (LINK) reached a record concentration. According to data Glassnode, 125 wallets control 81% of the tokens.
In the past few months, the number of coins in circulation rose by more than 14%, as the Chainlink team sold 50 million LINK.
Despite the increase in supply, the asset’s price rose 48% over the last week (according to CoinGecko). Analysts attribute the positive momentum to strong demand.
Share of total LINK supply held by the top 1% of addresses. Data: Glassnode.
The ongoing concentration of supply suggests that major holders of LINK continue to accumulate the asset.
Analysts say support and optimism from the existing community are a positive sign for LINK.
Earlier, in December, a user accidentally sent 4005 LINK to a smart contract that does not support operations with the asset, resulting in a loss of more than $50,000.
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