In a recent tweet by Santiment, a leading cryptocurrency market analytics platform, it has been revealed that the number of Chainlink whale transactions has surged to an all-time high for the year 2023.
This significant development comes at a time when the prices of LINK, a popular digital asset, have plummeted to their lowest point in three years, hitting a staggering $5.00 over the weekend.
According to Santiment’s data, it appears that mid-sized wallets containing 1,000 to 100,000 units of the Chainlink token, known as LINK, have been particularly active in accumulating substantial amounts of the cryptocurrency.
Astonishingly a staggering 3.9 million LINK tokens, with an approximate value of $20.0 million, have been accumulated within the past week alone.
This surge in accumulation by mid-sized wallets indicates that some savvy investors and traders view the current market conditions as an opportune moment to acquire LINK at a highly discounted price.
Despite the recent bearish trend, these market participants are positioning themselves for potential future gains, potentially anticipating a rebound in the digital asset’s value.
Chainlink Community Reaches 1 Million Milestone
Adding some excitement, Rory, the Director of Community at Chainlink Labs, took to Twitter to celebrate a remarkable achievement—the global Chainlink Twitter community has now grown to an impressive 1 million members.
In a heartfelt message, Rory expressed gratitude towards all the dedicated community members who have played an instrumental role in shaping the network into the thriving ecosystem it is today.
Meanwhile, LooksRare, a prominent platform for rare digital collectibles, has recently integrated Chainlink Verifiable Random Function (VRF) to power their provably fair LooksRare Raffles.
With an unwavering commitment to transparency, LooksRare has gone to great lengths to ensure a trustworthy and unbiased selection process. At the core of their system lies Chainlink VRF, a widely respected decentralized oracle network.
However, as the network continues to make waves in the blockchain industry, reaching an extraordinary milestone of 1 million community members, collaborations such as the one with LooksRare exemplify the practical applications and benefits of Chainlink VRF.
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