Large Holders Purchase Chainlink For $223 Million In Five-Month Accumulation Spree

Large holders have accumulated Chainlink so far this year. As the bear market progressed, shark and whale addresses owning 10,000–1,000,000 LINK tokens proceeded to assemble tokens.

Crypto expert Ali claims that since mid-May, when the cryptocurrency bear market was made worse by the Terra collapse, LINK wallets holding between 10,000 and 1,000,000 LINK have bought more than $223 million worth of LINK, according to Santiment data.

Chainlink’s shark and whale addresses (containing 10,000 to 1 million LINK) have been actively accumulating during the 2022 weak market, according to on-chain analytics company Santiment.

Since March 3, these addresses have collectively added 47.31 million LINK to their wallets, totaling $312.7 million more invested, according to Santiment.

According to data from CoinMarketCap, LINK was the 21st largest cryptocurrency at the time of publication and was trading at $6.90, up 4.70% in the previous day. LINK currently trades at a discount to its May 2021 all-time high of $52.70, providing whales with a chance to stockpile.

Chainlink Staking is being prepared

By supporting oracle services with staked LINK tokens, ecosystem participants will have the opportunity to gain rewards for enhancing their security and user assurances. Chainlink Staking is presently under development.

In December 2022, an early-beta version called Chainlink Staking v0.1 will launch. It will need an on-chain transaction on the Ethereum mainnet to start with and will afterwards transition to a general access phase.

New features including user fee rewards, an advanced reputation system, and other security assurance methods will be incorporated in the future.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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