Large investors accumulate $325 million in LINK tokens since March

The total capitalization of the asset reached $3,38 billion

22.10.2022 - 11:15

114

2 min

What’s new? According to analytics firm Santiment, large investors have begun to show interest in the native token of the Chainlink (LINK) decentralized oracle network. According to their data, since March 3, “sharks and whale addresses” (owning 10 000 to 1 million LINK) have added a total of 47,31 million LINK ($325,4 million at the Binance rate) to their wallets. As of October 22, 11:00 UTC, the asset is trading at $6,88, having gained 5,28% per day. LINK has a capitalization of $3,38 billion.

🔗🐳 #Chainlink's shark & whale addresses (holding 10k to 1m $LINK) have been busy accumulating during the 2022 bear market. Since March 3rd, these addresses have added 47.31M LINK to their wallets, collectively. This translates to $312.7M more invested. https://t.co/a2Q9bAoCMK pic.twitter.com/SaSora7Ikh— Santiment (@santimentfeed) October 21, 2022

What is known about Chainlink? The network is based on the Ethereum blockchain. The platform verifies and provides data from external sources for other smart contracts. In June, the team announced the launch of a staking feature, as well as the development of a new consensus algorithm, Proof of Reserves (PoR), which will increase transaction transparency

In September, Chainlink entered into a partnership agreement with the SWIFT financial messaging system. The parties will work on a cross-chain protocol that will unite the sphere of traditional finance and digital assets.

Also, earlier, analyst Benjamin Cowen said that LINK could surpass bitcoin in terms of growth. He noted that the oracle network acts as the basis for many cryptocurrencies.

Author: