From time to time, exhibiting movements in the opposite direction of the general market. LINK now it has attracted the attention of large whales. LINK The next uptrend may be due to the influence of large-scale investors.
centimentAccording to LINK whales (wallets holding 10,000 to 1 million LINK tokens) are increasing their investments day by day during this bear market.
Chainlink Accumulation of Large Whales Thinks New Highs Could Come
According to data from the crypto market intelligence and social monitoring platform, the investor group has accumulated total assets since March 3rd. 47.31 million LINK added.
This is the native token of the Blockchain Oracle network. 312.7 That means millions of dollars invested.
With activity over the past seven months, whales and sharks now represent Chainlink’s total circulating supply. 17.61%He’s holding it in his hand. This translates into a 4.73% increase in total assets over the period.
🔗🐳 #Chainlink‘s shark & whale addresses (holding 10k to 1m $LINK) have been busy accumulating during the 2022 bear market. Since March 3rd, these addresses have added 47.31M LINK to their wallets, collectively. This translates to $312.7M more invested. https://t.co/a2Q9bAoCMK pic.twitter.com/SaSora7Ikh
— Santiment (@santimentfeed) October 21, 2022
According to Santiment’s tweet, LINK’s whale addresses (holding 10k to 1 million LINK) were busy accumulating during the 2022 bear market. Since March 3, these addresses have added a total of 47.31 million LINK to their wallets. This means an additional investment of $312.7 million.
Whale accumulation points to strong investor confidence in Chainlink, while LINK’s price has yet to overcome the widespread pressures in the crypto bear market. However, the token made several impressive price rallies during the period when whales were accumulating.
Last month, LINK’s price broke out from the rest of the crypto market. Despite volatile trading in the rest of the market, the token rose around 20 percent.
Currently, LINK is trading around $6.63, down 1.09% in line with the general trend in the crypto market.
Meanwhile, anticipation is building in the Chainlink community for the launch of LINK Staking.
Blockchain’s developers have also released a web app for LINK holders to check their eligibility for early access to the feature, which will be available later this year.
It is eagerly awaited whether LINK, which has shown interest in small investors, will make its investors happy in a possible bull rally.
*Not investment advice.
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