TLDR:
- Chainlink Wallets holding 100K–10M LINK added 32.93M coins in one month, marking a 7.7% increase in holdings.
- The LINK whale cohort hit an all-time high of 461,000 wallets, signaling growing conviction among large holders.
- Chainlink’s buyback program moved $2.31M worth of LINK to its reserve within one week of activity.
- LINK Spot ETF cumulative net inflows reached $112.10M as exchange outflows hit $38.8M over seven days.
Chainlink’s on-chain data is drawing attention from market watchers as whale activity intensifies. Over the past month, wallets holding between 100,000 and 10 million LINK tokens have added 32.93 million coins to their holdings.
This represents a 7.7% increase within that cohort. Meanwhile, exchange outflows, ETF inflows, and a corporate buyback program are adding further pressure on available supply.
Whale Accumulation Hits All-Time High During Price Suppression
The 100K–10M LINK wallet tier is considered one of the most telling cohorts to track. These holders are large enough to deploy meaningful capital but are not exchange-operated custodial accounts. Their buying behavior tends to lead price movements rather than follow them.
According to Santiment Intelligence, this specific group accumulated aggressively throughout Q1 2026. During that period, LINK traded sideways near multi-month lows.
ChainLink’s key stakeholders that hold between 100K-10M $LINK have been aggressively accumulated over the past month. These whales & sharks have accumulated 32.93M more coins (a +7.7% increase) in just one month.
What makes this accumulation particularly significant is who… pic.twitter.com/qhY3xUOUMT
— Santiment Intelligence (@SantimentData) May 7, 2026
This pattern mirrors classic accumulation behavior, where strong hands absorb supply before retail interest returns.
The number of wallets in this cohort has now crossed an all-time high of 461,000. With more holders entering this bracket, the concentration of supply in committed hands continues to grow. That reduces the amount of liquid LINK available on exchanges.
As exchange-available supply tightens, any sudden increase in buying demand could push prices sharply higher. The current setup, according to on-chain data, reflects early signs of a supply squeeze forming across the market.
ETF Inflows, Buybacks, and Exchange Outflows Add Pressure
Beyond whale accumulation, several other market factors are contributing to tightening supply. Crypto analyst Nazoku reported that Chainlink executed two buybacks recently, totaling $2.31 million worth of LINK moved to the Chainlink Reserve over one week.
The LINK Spot ETF also recorded $533,000 in inflows over the past week. Cumulative total net inflows for the product have now reached $112.10 million. Institutional interest through structured products continues to build steadily over time.
Exchange flow data adds another layer to the picture. Net outflows from centralized exchanges reached $641,000 over 24 hours and $38.8 million over the past week. Coins leaving exchanges typically suggest holders are moving assets to self-custody, reducing sell-side availability.
On the business side, Chainlink recently onboarded two former LayerZero clients, Kelp and Solv Protocol. This expands the network’s active integrations and reinforces its position across the decentralized finance ecosystem.
LINK rose 10% over the past seven days, climbing from $9.09 to a high of $10.22 before pulling back to around $9.88 at the time of reporting.
The post Chainlink Whales Add 32.93M LINK as Supply Squeeze and Buybacks Point to a Price Breakout appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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