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Chainlink's Large Investors Added 3 Million Link Tokens, Leading to 36% Rally

Thu, 12/09/2021 - 12:19
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Tomiwabold Olajide
According to Santiment's on-chain data, large holders, or whales, played a role in Chainlink's recent 36% rise
Chainlink's Large Investors Added 3 Million Link Tokens, Leading to 36% Rally
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On-chain data from Santiment suggests that large holders, or whales, contributed in a way to Chainlink's recent 36% rally from Dec. 6 lows of $17.24.

As reported by U.Today, LINK rose to highs of $23.21 on Dec. 9 as multiple DeFi and GameFi platforms continue to integrate Chainlink VRF feeds. Besides this, large investors are beginning to take notice of Chainlink.

According to crypto whale tracker WhaleStats, an anonymous buyer purchased 405,985 LINK tokens worth $8,844,146 on Dec. 9 as Chainlink traded around $21.

On-chain data analytics team Santiment indicated that Chainlink is seeing modest consistent accumulation from whales once more. It notes that addresses holding from 100K to 10 million LINK tokens currently own 23.6% of the popular asset's total supply, after the addition of three million tokens.

Chainlink is trading at $21.60 after dipping nearly 6% from highs of $23.21 reached on Dec. 8.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.