Why Chainlink’s Price Plummets: Whale Activity Sparks Concerns – BitRss

Recently, the price of Chainlink’s LINK ($20.02) token experienced a significant decline following a brief recovery. This downturn has triggered concerns within the altcoin community, and further decreases are anticipated. As LINK approaches critical support levels, the selling activity by major investors is seen as a signal that prices may drop further, posing serious risks for smaller investors in the market.

Whale Sales Surge in Chainlink

Recent data reveals a surge in selling among Chainlink $20 whales. According to Santiment data shared by popular analyst Ali Martinez, approximately 4.3 million LINK tokens were sold by large investors within the last 48 hours. This volume indicates that investors are beginning to exit the market, suggesting a potential downward movement in prices.