81% of the Chainlink (LINK) supply is controlled by only 125 wallets

Chainlink (LINK) is in danger of losing its decentralization. According to Glassnode, the cryptocurrency market’s data source, the largest LINK wallets hold almost the entire supply. Statistics show that 81 percent of LINK tokens, which only 1 percent hold, are not held on cryptocurrency exchanges.

Glassnode’s research revealed that 81 percent of LINK tokens that are not listed on cryptocurrency exchanges are stored in only 125 wallets. The number of tokens held by chainlink whales has steadily increased over the past two years.

When tokens held on exchanges and smart contracts excluded by Glassnode are included, the Chainlink token distribution seems to be centralized. Etherscan data says 82.7 percent of LINK is in just 100 wallets. These 100 wallets account for less than 0.03 percent of all LINK addresses.

However, Glassnode estimates that only 12,500 of these addresses are currently active. So about 83 percent of the LINK supply is in 0.8 percent of active wallets.

Chainlink whales appear to have increased their savings since July 2019, and their share of supply, represented by the 1 percent with the most LINK, has increased from 53 percent to 81 percent in the past 18 months.

Liesl Eichholz from Glassnode says the “feeling of the rise” continues among Chainlink’s veteran investors, while LINK continues to buy whales despite reaching an all-time high this month.

On January 18, Chainlink surpassed Bitcoin Cash by market cap, becoming the eighth largest cryptocurrency for a short time.

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