Whales appear to be using Chainlink extensively (LINK). Shark and whale addresses owning between one thousand and one million LINK tokens have “entered an unparalleled wave of accumulation,” according to statistics provided by Santiment. The crypto analysis company claimed that in just two months, the shark and whale addresses collected 26.8 million LINK tokens valued at $194.3 million.
An undisclosed organization amassed Chainlink (LINK) worth $107.6 million over the course of 14 days, claims LookOnChain. For 14.3 million tokens, the whales paid an average price of $7.2 per coin.
In the past two weeks, the number of whales has increased dramatically. Consequently, throughout the same time period, the price of LINK increased by 23.3%.
Chainlink (LINK) is currently one of the top 10 tokens that BSC whales have purchased, as a result of the significant accumulation.
Intriguing Rise In Chainlink
The impending debut of LINK staking, which begins tomorrow, may be to blame for the rise in interest in LINK. Therefore, whales might be preparing for a rise in pricing.
Some “smart money” wallets, according to Nansen, are removing their LINK tokens from exchanges. This might be a sign that the wallets are putting their tokens up for stake. If wallets have a track record of success, Nansen refers to them as “smart money.”
Chainlink Staking v0.1 will have early access starting on December 6 at 12:00 ET and general access starting on December 8. According to a blog post, Chainlink Staking v0.1 will initially start at 25 million LINK and eventually reach 75 million LINK.
LINK was trading at $7.25 at the time of publication, down 3.6% from the previous day. The token has also lost 86.3% of its value after reaching an all-time high on May 10, 2021, when it reached $52.70. Many believe that LINK will peak at $8.13 this year and $28.33 in 2025.