According to on-chain analytics firm Santiment, crypto whales are on a five-month hoarding spree on an altcoin project. During this time, the whales purchased $223 million worth of tokens.
Altcoin where whales are on a hoarding spree: LINK
Citing Santiment data, crypto analyst Ali reported that Chainlink wallets holding between 10,000 and 1,000,000 LINKs have purchased more than $223 million in LINK since mid-May. The reason why the analyst bases May is that it is the period when the crypto bear market started to deteriorate with the Terra collapse.
Anailst says that LINK has seen significant savings in major holders throughout the year so far. Shark and whale addresses with 10,000-1 million LINK continued to accumulate tokens as the bear market developed. In this context, crypto analyst Ali shared the following on his Twitter account:
Chainlink wallets holding between 10,000 and 1,000,000 LINKs have purchased $223 million worth of LINK since mid-May.
On-chain analytics firm Santiment gives holders in this category a summary of their activities. Accordingly, Chainlink’s shark and whale addresses have been busy piling up throughout the 2022 bear market. According to Santiment, since March 3, these addresses have collectively added 47.31 million LINK to their wallets. This means an additional investment of $312.7 million.
At press time, LINK was trading at $6.84, up 1.49% in the last 24 hours. Altcoin ranks 21st among cryptocurrencies in its current state, according to CoinMarketCap data. At its current price, LINK is down 86.9% from its all-time high of $52.70 in May 2021. According to analysts, this also gives a discount opportunity for whales to hoard.
Chainlink Staking goes step by step
Meanwhile, Chainlink Staking is currently under construction. Once activated, ecosystem users will be able to stake LINK. Thus, users will increase the security and user assurance of oracle services by supporting the ecosystem with their tokens. For this, they will have a chance to win prizes.
cryptocoin.com As we have reported, the beta version of Chainlink Staking v0.1 will be released in December 2022. Thus, the first step to the realization of the project will be taken. This release is intended to start with an early access phase before it becomes publicly available. This will require an on-chain transaction on the Ethereum main-net. Future plans include user fee rewards. Also included is the inclusion of new features such as a more advanced reputation system and other security assurance techniques.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.