Whales Dump Over 170M LINK Tokens as Price Holds Near $13

• Since the last three weeks major holders have sold substantial amounts of LINK tokens which indicates a negative market outlook.
• The selling pressure on LINK Price has failed to impact its price stability which remains between $12.42–$13.16.
• Price stability will shift depending on when retail or institutional investors decide to enter the market during the current period of whale liquidations.

In recent weeks, significant movements in the Chainlink (LINK) market have drawn the attention of investors and analysts alike. A large number of whales have executed LINK token sales surpassing 170 million tokens during the last three weeks which raises questions about price stability and market sentiment.

The Chainlink price shows slight growth according to current market trends and currently trades at $12.97 while demonstrating a 2.6% increase during the last 24 hours. Despite this minor uptick, the broader trend reveals a significant volume of outflows from whale wallets.

The LINK Spot Inflow/Outflow highlights a notable trend in net outflows. The chart data shows extensive selling pressure from big holders because red bars consistently appear on the visualization. The exchange wallets experience substantial LINK token withdrawals which create the red bars on the chart indicating net outflows. 

This type of continuous outflow from exchange wallets has historically shown that whales either cash out their profits or transfer funds to private wallets for extended storage. The continued directional movement of selling pressure indicates big-scale liquidations are underway.

Historically, when whales engage in large-scale selling, it exerts downward pressure on the price due to increased supply in the market. Price data on the Chainlink price chart mirrors the substantial market outflows observed through the past months. The price of LINK began trading above $25 during early December before it started declining to reach below $15 and currently maintains stability at $13.

The 24-hour price activity demonstrates LINK moving between $12.42 and $13.16 despite the ongoing whale selling events. This suggests that smaller investors or market makers may be absorbing some of the selling pressure, preventing extreme price fluctuations.

Given the significant volume of LINK being offloaded, market participants are speculating on the reasons behind this trend. Early investors likely took profits while fund organizations may have strategically moved capital or market actors expressed worries about economic developments.

The ongoing whale selling operations could possibly restrain LINK from gaining momentum in the near future. The LINK price may stabilize or potentially recover from its decrease if retail traders and institutional investors increase their buying activities. LINK’s upcoming weeks will depend on the effects of external elements which combine regulatory changes and general cryptocurrency market fluctuations.

LINK’s current whale-driven selling activity creates market uncertainties for the asset. The price stability remains consistent but significant long-term liquidation events may create barriers to LINK reaching its previous peak values.

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