Chainlink (LINK) Whales Begin Selling, Price Crash Coming?
The cryptocurrency market has certainly struggled in recent weeks. With increased geopolitical concerns and a brewing US trade war, cautious traders have seemingly dominated the market. One coin that has suffered over the last several weeks is Chainlink (LINK). Chainlink is down over 10% in the last month, and LINK whales appear concerned that the drop will continue. These concerns have made whales offload their LINK tokens in bunches. Indeed, according to CryptoQuant data, the Active Addresses on-chain metric continues to sustain an overall downward trend from its peak of approximately 9,400 addresses in February to roughly 3,200 addresses as of Tuesday. This marks a 66% decline in two and a half months and a 72% drop from the metric’s December peak of approximately 11,400 addresses. Santiment’s data also reveals that between February and mid-April, addresses with between 10 million and 100 million LINK tokens (whales) reduced their holdings by 1.88%. This whale cluster currently hold...