Analysis: It is suspected that a certain entity accumulated 10% of LINK tokens over six months through 48 linked wallets.

PANews reported on January 29th that, according to on-chain analyst LinkBoi, an analysis of the top 100 LINK holding addresses revealed that 48 wallets hold almost the same amount of LINK (approximately 2 million LINK each) and exhibit a highly consistent trading pattern. These wallets were all created between August and November 2025, and all purchases originated from the same Coinbase hot wallet address.

Based on the striking similarity in their transaction heatmaps—these wallets executed similar-sized buy orders on exactly the same dates—analysts believe these addresses are highly likely controlled by the same entity. This entity accumulated approximately 100 million LINK tokens between August 2025 and January 2026, representing about 10% of the total LINK supply. Its accumulation strategy was carefully designed to avoid attracting market attention or affecting price. The identity of this entity has not yet been publicly disclosed.