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

Chainlink has forged several collaborations with prominent companies but on the price side of things, its native token has yet to recoup its losses. Over the past month, LINK was down by approximately 14%.

Surging past the crucial resistance level at $6 was a feat given a broad bearish market for altcoins this week, but the token could potentially be poised for more gains.

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

🔗🦈 #Chainlink‘s key shark tier that holds between 10K-100K $LINK has been on an accumulation spree. There are now 3,127 wallets holding this level of coins, making it the highest amount since Dec. 3, 2022. They have 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 over 0.15% of LINK’s entire circulating supply.
• There has also been an increase of 98 new Chainlink wallets holding between 10K-100K LINK tokens since September 3rd, representing a growth of more than 3.2%.
• The renewed accumulation among large 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 across multiple private and public blockchains in recent experiments alongside Chainlink.
• The oracle provider’s Cross-Chain Interoperability Protocol (CCIP), which is created to help build cross-chain applications and services, was used by Swift to connect with different blockchains.
• Besides, Chainlink tapped the Coinbase-incubated layer-2 network Base last month, expanding its integrations to a total of 12 blockchains.