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    Crypto Whales and Sharks Gobble Up Nearly $200,000,000 Worth of Chainlink (LINK) in Less Than a Month: Santiment

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    Crypto Whales and Sharks Gobble Up Nearly 0,000,000 Worth of Chainlink (LINK) in Less Than a Month: Santiment

    Santiment says that deep-pocketed crypto investors are accumulating massive amounts of Chainlink (LINK) as LINK’s development activity soars.

    New data from the market intelligence platform shows that crypto whales and sharks went on a LINK buying spree, picking up $192.2 million of the decentralized oracle network’s token in under four weeks.

    During the same time, Chainlink’s development activity on the development hosting platform GitHub increased significantly, making it one of the top five most developed assets during the last 30 days, according to Santiment.

    “Chainlink’s GitHub development activity has been notably higher this summer, leading to the asset cracking the top 5 most frequent developed assets. Additionally, whales and sharks with 100,000-10 million LINK now hold the most coins since December 2022.”

    Image
    Source: Santiment/X

    Chainlink is trading for $7.34 at time of writing, up 3.1% during the last 24 hours.

    Santiment also keeps a close eye on stablecoins Tether (USDT) and USD Coin (USDC) moving to and from exchanges. The firm notices a slight uptick in USDT moving to exchanges, which could signal a move to the upside for crypto.

    “Tether and USDCoin moving to exchanges have historically foreshadowed crypto surges. Influxes of USDC to exchanges in December and February sparked rallies the following months (respectively). USDT has risen slightly since June, but more will be bullish.”

    Image
    Source: Santiment/X

    Santiment previously predicted that the crypto king could soon find itself over the $30,000 level if whales continue the trend of swapping stablecoins for Bitcoin after months of decreasing their BTC holdings.

    Bitcoin is trading for $29,854 at time of writing, up 2.7% during the last 24 hours.

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    Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

    Generated Image: Midjourney

    The post Crypto Whales and Sharks Gobble Up Nearly $200,000,000 Worth of Chainlink (LINK) in Less Than a Month: Santiment appeared first on The Daily Hodl.

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