Altcoin NewsCryptocurrency News

Chainlink (LINK) Flips Shiba Inu As Most Widely Held Token By Whales

Chainlink (LINK) has become the most traded and widely held token by the top 100 Ethereum (ETH) whales in the last 24 hours. Moreover, LINK has even overtaken  Shiba Inu (SHIB) in terms of most purchased and sold token by top whales.

As a result of gaining interest from the largest Ethereum whales, the Chainlink price has increased significantly in the last 24 hours.

Chainlink (LINK) Attracts Interest from Top ETH Whales

According to data from WhaleStats, Chainlink (LINK) has been in demand from the top 100 Ethereum whales. On average, the whales bought 7710 LINK tokens for $105,877 in the last 24 hours. The LINK token has flipped Shiba Inu (SHIB) to become the widely held token by Ethereum whales. Shiba Inu drove massive attention after it was recently listed on the Robinhood app, resulting in a 10% increase in price in just a few hours.

Moreover, the 10th largest Ethereum whale Three Arrows Capital had acquired nearly 135,989 Chainlink tokens for about $1,855,555 on Thursday at 9:19 PM UTC. Similarly, other whales including ETH whale “Radagast” bought 269,816 LINK for $3,736,964 and ETH whale “Great Goblin” bought 199,015 LINK for $2,756,357 in the last 24 hours.

The Chainlink (LINK) has been in demand from the Ethereum whales these days as the number of partners continues to increase and its integrations on BNBChain and Polygon help various projects.

LINK sees bargain buying

A bulk of buying in the token appeared to be driven by its recent losses. The token recently hit a one-month low, giving it an attractive price for whales to accumulate.

Chainlink (LINK) dropped to its lowest monthly price of $13.45 on April 14, attracting interest from Ethereum whales. The token price has surged nearly 5% from that low, and was last trading around $14.

According to CoinMarketCap, the Chainlink (LINK) price is still 1.75% down in the last 24 hours and nearly 11% down in the last seven days. The Chainlink token’s price has been on a downtrend since the start of April. However, the trading volume has increased significantly from these levels, suggesting a rally in the coming days.

Disclaimer

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

About Author

Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a substantial period and is currently covering all the latest updates and developments in the crypto industry.

Source link

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button