Chainlink (LINK) whales have been selling their stacks

Chainlink (LINK) has been trending year-over-year, fueled by the real-world assets (RWA) narrative, attracting retail investors and increasing in price. Meanwhile, Chainlink whales have apparently been decreasing their exposure to the token, likely selling their large holdings over time.

I used this new metric on Santiment, tracking the U.S. dollar value from Chainlink whales. Essentially, the metric considers a whale any address holding over $2 million in sight of LINK’s $10 billion market cap.

As observed, these holdings have dropped from $550.56 million on June 4, 2023, to $464.65 million by press time. Notably, LINK was trading at $6.07 one year ago, more than doubling in price currently at $17.6. This highlights an even higher drop in whales’ holdings measured in LINK, raising a relevant signal to the cryptocurrency market.

In contrast, Ethereum (ETH) whale balances have increased throughout these 12 months, following the year-over-year price trend.

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Complete report on Finbold: https://finbold.com/whales-signal-large-investors-are-selling-this-trending-rwa-cryptocurrency/