Lookonchain, an analytics team that tracks “smart money” wallet transactions, (LINK) altcoin found an unusual pattern among their owners’ large whale accounts.
“There Is Activity In Altcoin Whale Accounts That Will Start Staking Operations Tomorrow”
According to statistics shared by Lookonchain today, on December 5, 2022, a group of major holders of LINK, the core ERC-20 altcoin of the Chainlink decentralized oracle network, started a new accumulation process.
A number of notable purchases by whales have gained momentum in the past 14 days. So much so that in the last days of November, whales began to accumulate on both centralized and decentralized exchanges.
A wallet of unknown origin has purchased $107.6 million in LINK, with an average of $7.2 per coin in the past 14 days.
Also, some other great cryptocurrency addresses have bought over $3 million on two major decentralized cryptocurrency exchanges, Uniswap (UNI) and 1Inch (1INCH).
1/ Whales are accumulating $LINK recently.
– A gaint whale (institution) accumulated 14.3M $LINK ($107.6M) from #Binance in the past 2 weeks.
– 0xd51b bought 284,496 $LINK ($2.15M) from #Uniswap on Nov. 30.
– 0xe6a5 bought 66,723 $LINK ($504,427) from #1inch on Nov. 30.
👇👇— Lookonchain (@lookonchain) December 5, 2022
The developments were transferred from the Lookonchain account as follows:
“Whales have been accumulating $LINK lately.
– Address 0xd51b purchased $284,496 LINK ($2.15 million) from Uniswap on November 30.
– Address 0xe6a5 bought $66,723 LINK ($504,427) from 1inch on November 30.”
The whales’ interest can be attributed to some extent to the upcoming staking launch in the Chainlink (LINK) altcoin. On December 6, 2022, Chainlink Staking v0.1 will go live on Ethereum’s mainnet.
Analysts say LINK staking would be a viable alternative to staking on the proof-of-stake (PoS) version of Ethereum.
*Not investment advice.
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