Chainlink (LINK) users, commonly referred to as “LINK marines,” are becoming more negative as “whales,” or broad holders, move huge quantities of the tokens, which could mean that the price is slowly going down.
Some people in the community, though, say these worries are just normal feelings of fear, confusion, and doubt (FUD).
LINK whale accounts have been very active since the middle of June. This has made some people in the community think that these significant users may be selling to make funds before the price drops.
LINK’s Project Roadmap Progress
It was especially clear that there was more action on Friday, June 21, when automated tracking services saw that almost 19 million Chainlink tokens were being sent to exchanges.
Even with these worries, some critics say that the project is following its plan and that LINK’s whale moves are normal. In the last 30 days, Chainlink’s price has dropped by 23.17%, taking out about $3 billion in market value and setting a new low for the second week in a row.
Some Twitter critics have also said that Chainlink’s CCIP system for sending funds across networks is being used less and less. Less than 1,300 transfers went through the protocol in the last 24 hours, which brought in $689 in fees.
Still, Chainlink’s services keep growing. In the past week, they’ve added support for seven big EVM networks, such as Ethereum (ETH), Arbitrum (ARB), Base (BASE), Mode, and Scroll.
