Chainlink (LINK) has shown conflicting signals recently, leading to a general market decline in digital currencies, causing its price to drop. However, significant whale activities indicate continuous interest from large investors in this token. According to Santiment platform data, whales holding between 1 to 10 million LINK tokens purchased 3.58 million LINK units worth $76.9 million in the past three days. In early December 2023, the price of Chainlink surpassed $29 for the first time in three years, boosting optimism among users. Yet, in the past two months, retail investors have sold around 5.67 million LINK units, possibly due to impatience, profit-taking, or fear of further price decline. It is worth mentioning that recent whale activities are not limited to large purchases. As per Lookonchain data, a whale recently deposited 250,000 LINK units to Binance and OKX exchanges. This whale had previously bought 595,000 LINK units at an average price of $29.1 and is now facing an unrealized loss of $4.5 million. Overall, in the past two months, whales with over 100,000 Chainlink tokens have purchased approximately 5.69 million LINK units. In contrast, retail traders have almost sold the same amount of LINK units to the market, likely due to emotional selling or fear of further price decline.
