Chainlink Whale Transactions Reach Three-Month High as LINK Surges, According to Santiment

Recent Insights from Santiment Show that Wealthy Chainlink (LINK) Investors Have Been Actively Trading, Coinciding with the Coin's Rapid Surge.

In a recent update on the social media platform X, the crypto analytics platform reports that amid the redistribution of Bitcoin (BTC) and the overall positive trend among altcoins, the decentralized oracle network, Chainlink, has excelled. Chainlink has witnessed over 226 whale transactions, 4,932 active addresses, and a remarkable trading volume of $802.2 million on a single Saturday.

"Chainlink is demonstrating remarkable strength this weekend, achieving its highest levels in whale transactions, unique interacting addresses, and trading volume in the last three months. While altcoins have been reaping the benefits of Bitcoin redistribution, LINK has been notably exceptional."

Source: Santiment/X

Just last week, Santiment's data indicated that wallets holding between 100,000 and 1 million LINK tokens acquired a staggering $38.5 million worth of the digital asset within a mere seven days.

Further insights from IntoTheBlock, a market intelligence platform, revealed that Chainlink whales continued their accumulation, amassing over $121 million worth of LINK over the past month.

Crypto strategist Michaël van de Poppe has identified a bullish trend in LINK's current momentum. Nevertheless, he advises that a pullback could occur before reaching the $12 mark. In such a scenario, he suggests potential buying opportunities in the range of $8 to $8.50, anticipating a subsequent rise to $12.

Source: Michaël van de Poppe/X

As of the current writing, Chainlink is trading at $10.67, marking an impressive gain of more than 40% over the past week.

Oct 24, 2023

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