The number of major Chainlink (LINK) holders has grown by 25% in the past year, with 125 whales now holding over 1 million tokens each. Despite this accumulation and tightening supply fundamentals, LINK’s price remains bearish, consolidating near lows comparable to those that preceded a significant rally in 2025.
Network activity on Chainlink has grown over the past year while its price action has declined. Institutions have adopted the oracle as whales continue accumulating the altcoin.
The number of Chainlink whales holding over 1 million LINK tokens grew from 100 to 125 between April 2025 and April 2026. Their collective holdings have continued to increase during this period.
Prices have remained bearish, a decline worsened by escalated geopolitical tensions in the Middle East. The fundamentals, however, are tightening the circulating supply of LINK tokens.
Chainlink Reserve recently added over 137,000 LINK tokens worth $1.17 million. This brought its total holdings to 2.93 million tokens valued at $25.6 million.
The reserve is expected to continue growing from fees collected for oracle services. For example, Multipli will be distributing its $340 million rwaUSD stablecoin through Chainlink.
Integrated platform Polymarket saw $3.5 billion in trading volume. More than 3,000 traders signed up for Data Streams, expanding the oracle’s revenue streams.
Such increased institutional activity raises revenue generation. These developments suggest the reserve will increase efforts to cut the circulating supply.
LINK‘s price action is consolidating just below the April 2025 lows. Those lows last year ultimately led to LINK’s rally for 2025.
The altcoin has been moving sideways since February, putting it in a two-month range. It also trades around a slanting resistance trendline, though bears seem in control.
The MACD is faintly red, meaning the strength of sellers is diminishing. If the price breaks out above the trendline, whales could potentially push LINK higher.
