Chainlink Sharks Accumulate $9.6M Worth of LINK in 3 days: Data

Chainlink has made many collaborations with famous companies but in terms of the price of goods, its native token has yet to recover its losses. In the last month, LINK has dropped approximately 14%.

Breaking through the crucial $6 resistance level is a feat given a broadly bearish market for altcoins this week, but the token could be poised for more gains.

• According to Santiment, the “shark” tier of LINK investors is gathering coins. As a result, the number of wallets holding 10K-100K LINK has increased to a level not seen in the last nine months.
• Shedding more light on the latest accumulation patterns, the market intelligence platform observed that this group of holders added a staggering $9.6 million worth of LINK tokens in the last three days alone.

🔗🦈 #ChainlinkThe key shark tier holds between 10K-100K $LINK is on an accumulation spree. There are currently 3,127 wallets holding this level of coins, making it the highest amount since December 3, 2022. They added $9.6M worth of $LINK in 3 days. https://t.co/X8egUJMz5k pic.twitter.com/TPYHkahdg9

— Santiment (@santimentfeed) September 7, 2023

• Santiment’s analysis also shows that Chainlink sharks collectively hold more than 0.15% of the entire circulating supply of LINK.
• There has also been an increase of 98 new Chainlink wallets holding between 10K-100K LINK tokens since September 3rd, representing a growth of over 3.2%.
• The renewed accumulation of major LINK holders comes as the crypto asset hovers near $6.2 at the time of writing.
• The global financial messaging network Swift recently announced the successful transfer of tokenized value to several private and public blockchains in recent experiments with Chainlink.
• The oracle provider’s Cross-Chain Interoperability Protocol (CCIP), which was created to help build cross-chain applications and services, is used by Swift to connect to different blockchains.
• In addition, Chainlink tapped the Coinbase-incubated layer-2 network Base last month, expanding its integrations to a total of 12 blockchains.