Chainlink Appetite: Whale Scoops Up $84 Million Worth Of LINK, And Counting – Details
11 Febbraio 2024 - 8:00PM
NEWSBTC
The cryptocurrency market has been abuzz with excitement as a
mysterious Chainlink (LINK) whale embarks on a remarkable shopping
spree, accumulating an astonishing volume of LINK tokens. Recent
data from Lookonchain reveals that this enigmatic whale wallet has
acquired more than 4.5 million LINK tokens over the course of just
three days. Based on the current LINK price, this accumulation is
valued at a staggering $84 million. Related Reading: BONK Stays
Alive In Top 100 List With 25% Single-Day Rally – Details Chainlink
Whales Surge, Holders Optimistic This relentless accumulation
activity by the Chainlink whale has captured the attention of
analysts and investors, generating anticipation for a potential
future surge in the LINK price. The market is rife with speculation
as traders eagerly await the outcome of this significant
accumulation. This mysterious whale continues to accumulate $LINK!
And has accumulated a total of 4,556,684 $LINK ($83.6M) from
#Binance via 55 fresh wallets in the past 5
days.https://t.co/cYgH52rHzxhttps://t.co/B32QIBNNu2
pic.twitter.com/cP7piTmNaT — Lookonchain (@lookonchain) February
10, 2024 But it’s not just the whale that is showing interest in
Chainlink. Santiment’s data indicates a noteworthy increase in the
total number of Chainlink holders. Over the past few months, the
count of LINK holders has grown by approximately 9,000, reaching a
substantial total of 717,000 holders. This surge in holders further
fuels the growing optimism surrounding Chainlink’s future
prospects. Whale LINK accumulation. Source: Lookonchain Adding to
the intrigue, Chainlink holders are actively withdrawing their LINK
holdings from exchanges. A closer look at the supply on exchanges
reveals a recent trend where holders are moving their LINK away
from these platforms. Currently, the supply on exchanges represents
only about 21.5% of the total supply, indicating a strong belief
among holders that a potential future price rally is on the
horizon. Despite experiencing some fluctuations in recent days, the
overall price trend for Chainlink remains robust. On the daily
timeframe, the LINK price has been oscillating within the $18 price
range for several days following a surge into this range on
February 1st. Chainlink currently trading at $20.5330 on the daily
chart: TradingView.com Chainlink Price: Bullish Momentum As of now,
the price sits at around $20.40, reflecting a 12% and 16% increase
in the last 24 hours and seven days, with a Relative Strength Index
(RSI) remaining above 60, indicating a resilient bullish trend.
These developments within the Chainlink ecosystem have created an
atmosphere of eager anticipation among investors and enthusiasts.
The whale’s accumulation, the growth in LINK holders, and the
withdrawal of LINK from exchanges all contribute to the mounting
excitement surrounding a potential future surge in price. Source:
Coinglass Meanwhile, LINK’s positive funding rate signals a
prevailing bullish sentiment, indicating a higher demand for long
positions among traders. The simultaneous increase in LINK’s Open
Interest further suggests that market participants are leveraging
their positions to go long. Related Reading: Bitcoin Back Above
$48,000 – Is This Level The Springboard To $52,000? This confluence
of factors reflects a collective confidence in LINK’s upward
potential, with traders expressing optimism through both funding
decisions and larger leveraged positions, potentially fueling
continued bullish momentum in the market. Featured image from Adobe
Stock, chart from TradingView
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