Prominent oracle network, Chainlink [LINK] whales activity demonstrated mild signs of accumulation in the backdrop of price decoupling by more than 11% gain. As per the latest data provided by the on-chain analytic platform, Santiment the large-scale addresses holding 100K to 10 million LINK coins have amassed more than 3 million of the aforementioned assets as its price jumped back above $22 in the wee hours of 8th December 2021.
The latest whale behavior signals a beginning of a gradual accumulation growth phase after last week’s huge sell-offs that saw panic holders dumping about 24 million LINK coins. After the new addition, the whales now own 23.6% of the popular asset’s total supply.
On the price front, LINK is one of the few cryptocurrencies that has managed to ascend higher despite overall tepid market conditions. At the time of writing, Chainlink’s price is changing hands at $21.87 while its 24-hour trading volume stood at $1.35 billion. The 21st ranked coin rose by 8.93% in the last 24 hours and has a total market cap of $10.21 billion. The network’s rising utility and high-profile integrations along with a major appointment have impacted positively in the token’s price action.
Chainlink labs got its new Strategic Advisor
According to a recent press release, Chainlink labs announced that Eric Schmidt, a former Google CEO, has been appointed as a strategic advisor to guide the team in scaling the operation and ‘working to build a world powered by the truth’. Speaking on the latest appointment Chainlink co-founder Sergey Nazarov stated,
“Blockchain networks and Chainlink oracles are at a crucial inflection point in terms of growth and adoption. Eric’s experience and insights around building global software platforms for next-generation innovation will be invaluable as we help developers and institutions usher in a new age of economic fairness and transparency.”
Chainlink pioneers oracle networks to integrate real-world data with smart contract functionality built on blockchains. With the help of node operators such as Deutsche Telekom’s T-Systems, Swisscom, and the Associated Press, Chainlink’s network triggers and captures more than $80 billion in value locked in smart contracts across multiple blockchains in varied ecosystems like decentralized finance or DeFi, Insurance, and the gaming sector.
