Chainlink’s network now counts over 535,000 wallets holding at least 1 LINK, marking the largest number of non-micro wallets since December 2022.
Data from Santiment shows this expansion has taken place even though LINK remains well below its cycle highs.
Chainlink Wallet Growth
Analytics firm Santiment noted that a steady increase in wallet counts is historically a sign of gradual adoption and accumulation. The company highlighted that the influx of new participants is a constructive development, especially during times of market uncertainty.
Santiment emphasized that monitoring wallets holding at least 1 LINK is meaningful because the metric reflects network participation rather than short-term speculation. While prices can swing with market sentiment, a rising number of holders can signal growing long-term trust and engagement with the ecosystem.
Despite the growth in holders, LINK’s price performance has been unimpressive. The token has moved lower over the past month, dropping from above $10.40 in early May to roughly $7.90 at the time of reporting. This decline suggests that increased adoption and participation on the network have not yet produced a corresponding uplift in market price.
Even with price pressure, the network has seen heightened adoption of Chainlink infrastructure in recent weeks. After an April exploit involving LayerZero-powered systems, both KelpDAO and Solv Protocol announced plans to migrate their cross-chain operations to Chainlink’s Cross-Chain Interoperability Protocol (CCIP). KelpDAO said it will transition rsETH to Chainlink’s framework to bolster security, while Solv Protocol is moving over $700 million in Bitcoin-related assets to CCIP as part of a comprehensive rebuild of its cross-chain systems.
Santiment commented on Chainlink’s wider role:
“With Chainlink continuing to play a central role in oracle services, tokenized assets, and real-world asset infrastructure, watch for crypto’s #17 market cap to be a breakout candidate when overall markets turn bullish once again.”
Expansion
Chainlink Labs is also increasing its involvement in the regulatory and policy side of the crypto industry. Together with Anchorage Digital, it helped create the Blockchain Leadership Fund, a political action committee that has endorsed ten candidates for the 2026 election cycle who favor pro-crypto and blockchain-focused policies.
In addition, Chainlink’s technology was recently adopted by Fidelity International for its first tokenized fund, FILQ, signaling growing institutional interest in Chainlink-powered solutions.