Chainlink's number of non-empty wallets on Ethereum has exceeded 900,000, setting a record high. About 20,000 new addresses have been added in the past month alone. This milestone comes at a time when token prices hover at local lows around $7.80-a phenomenon that on-chain analytics firm Santiment describes as "silent sucking": holders quietly establish positions while prices move sideways and market attention is distracted.
Wallet numbers are climbing, but prices are not following
This divergence is no stranger to Chainlink observers. Sand data showed that earlier this month,$LINK added more than 8000 non-empty wallets in just five days, pushing the total number of holders to nearly 900,000. This wallet growth occurs when prices are near local lows and usually means soliciting rather than speculation.
This trend is also reflected in large households. The number of wallets holding at least 100,000 $LINKS climbed to a record high of 805 in early 2026. Within seven weeks, the group expanded by 8.2%, the fastest accumulation rate on record. Sanitation classifies these addresses as whale addresses and are typically associated with institutions, high-net-worth individuals, and long-term strategic holders. The growth of this group does not stem from short-term speculation-a wallet holding nearly $1 million in a single altcoin is likely based on investment logic over months or even years.
Adoption pace leads chart
Behind the on-chain activities is the continuous expansion of real-world integrated applications. Robinhood launched its Ethereum-based Layer 2 blockchain main network on July 1, 2026, and has chosen Chainlink from the beginning to provide data feeds, data flows and cross-chain interoperability protocols, supporting millions of users. Tokenized stock tokens and on-chain products. DTCC also selected Chainlink's technology in May 2026 to build a new collateral system planned to go online in the fourth quarter. Meanwhile, in June 2026, more than 50 banks from 16 countries joined Chainlink's Project Pangea to build a faster foreign exchange settlement system.
Chainlink has experienced one of the largest institutional partnerships this year, but prices have been barely affected. The broader pattern is clear: Despite the extreme ecological news,$LINK has fallen by about 20% in the past three months, suggesting that the market has been downplaying the good news and focusing more on macro and technical pressures than on long-term adoption headlines.
Whether the steady growth in the number of holders will ultimately translate into price momentum remains a core issue facing Chainlink in the coming months.

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