Chainlink (LINK) Top 10 Wallets Control 32% Supply: Report

Key Points

1. The top 10 wallets hold 32% of Chainlink's (LINK) total supply, higher than USDC's 27% but lower than Shiba Inu's (SHIB) 62%.

2. Chainlink's price dropped 3.75% to $13.40 due to a market sell-off influenced by macroeconomic concerns.

3. Analysts suggest that holding above the $12 support level could lead to a potential upward breakout for LINK.

4. A move above the $14 resistance level could drive LINK's price toward $16.77, $18, and $20, though the RSI indicates possible consolidation first.

5. The report emphasizes the importance of supply concentration for investors, as it impacts market dynamics and price stability.