Over the past 17 days, key stakeholders of Chainlink (LINK), holding between 10,000 to 1 million tokens, have markedly increased their investments. Data sourced from Santiment, a leading behavior analysis platform, reveals that these investors have added a substantial 9.2 million LINK to their portfolios since June 24th, resulting in a 4.65% uptick in their collective holdings.

This accumulation occurs against the backdrop of a subdued cryptocurrency market, underscoring a significant show of confidence from larger investors. The total holdings of these millionaire wallets have reached a new eight-month high, accumulating 207.29 million LINK.

The trend highlights a robust endorsement from Chainlink’s major investors, suggesting a potential bullish outlook for the LINK token in the near future. Market watchers are poised to observe whether this momentum will influence Chainlink’s market valuation and position as market conditions evolve.