Chainlink (LINK) Top 10 Wallets Control 32% Supply: Report
2025-07-04 12:04:31
Main Idea
A report reveals that the top 10 wallets of Chainlink (LINK) control 32% of its total supply, highlighting concentration levels compared to other cryptocurrencies like USDC and SHIB, while Chainlink's price faces short-term volatility.
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.
Description
Report sheds light on percentages of supply held by major crypto's top 10 whales
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