Chainlink: Whales move towards LINK as prices fall – What next?
Whale Interest in LINK on the rise
The surge in accumulation by large addresses indicates a heightened interest among whales in the LINK token. This activity raises questions about the potential impact on LINK’s price trajectory and market dynamics.
Looking at the metrics
Examining the price movement of LINK, it was trading at $16.15, reflecting a -5.28% decrease in the last 24 hours. Despite this correction, the overall trend suggested a bullish trajectory, characterized by higher highs and higher lows.
The MVRV ratio for LINK exhibited growth in recent weeks, implying that holders remained profitable even amid the correction. The decline in LINK’s price might be attributed to profitable holders capitalizing on their gains by selling their holdings.
