January 19 that according to the latest data from the research organization Glassnode, the decentralized oracle project Chainlink (LINK) is now at the highest level of centralization in history, with about 80% of the tokens. There is no transaction, but stored in no more than 125 wallet addresses, which accounts for about 1% of all wallet addresses.
Further research found that in the past two years, investment institutions have steadily increased the number of tokens in their hands.
If the rest of the tokens that sign smart contracts in the market are also included, according to Etherscan data, the degree of centralization of LINK's token distribution will become extremely extreme. 82.7% of LINK tokens are held by only 100 wallets. That is about 0.03%.
However, Glassnode estimates that only 12,500 of these addresses are active. This means that 0.8% of active wallets supply nearly 83% of LINK tokens.
Since July 2019, whales in the LINK market have continued to increase their holdings. In the past 18 months, the supply share of the top 1% of institutional holders has steadily increased from 53% to 81%.
And the bullish sentiment of institutional investors is still very strong. Although the price of LINK this month hit a new high, the whales continue to buy. Liesl Eichholz of Glassnode summarized as follows:
"The centralization trend of LINK tokens is still strengthening, which shows that LINK holders are still optimistic about this trend and will continue to buy."
According to the latest market news, LINK surpassed BCH (Bitcoin Cash) to become the eighth cryptocurrency by market value, with a current market value of approximately US$9 billion.