According to @glassnode, Chainlink's cost basis distribution reveals two significant price clusters at $14.6 with approximately 65 million LINK and $16.0 with about 20 million LINK. These levels are critical for traders as they trace back to long-term investors who have been active since August-October 2024. The engagement of these investors into 2025 suggests these clusters could act as potential support or resistance levels, depending on market conditions.

According to glassnode, the $14.6 cluster illustrates that LINK holders are engaging in well-timed, less frequent purchases, suggesting a long-term investment approach. Purchases were made at $17 and $28 in December, $25 in January, and a significant acquisition following a bounce from $12 on March 15. These actions indicate that current LINK holders are patient, long-term allocators rather than short-term traders.