What you are asking is why the link light is always on when the w5500 is powered on. When w5500 is powered on, the link light is always on, indicating that the power supply is connected normally.
Because the w5500 switch panel will provide a status indicator light to indicate whether the system is running normally. If the power indicator light is always on, it means that the power is connected and the power is supplied normally, so the link light of the w5500 is always on when the power is turned on. The power supply is connected normally.
W5500 is a cost-effective Ethernet chip with the world's unique full hardware TCPIP protocol stack patented technology.