Whale wallets have accumulated max number of LINK in 2020

by in Cryptocurrency News

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Large investors continue to accumulate the ChainLink (LINK) cryptocurrency. The Santiment team recorded a new surge in the activity of so-called "crypto whales", gathering massive amounts of digital currency.

In October, such players controlled the maximum number of LINK tokens in 2020. Whale OTC wallets now hold 648.6 million coins.

At the same time, ChainLink's price increases. Over the past three days, the token has grown in price from $ 9.7 to $ 12.5. The altcoin has grown by almost 28%.

The lion's share of the cryptocurrency was accumulated by the addresses of the ten largest investors. The last time a similar situation was observed on July 1, 2019.

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The researchers emphasize that the ongoing accumulation indicates that the whales are confident in the enormous potential of the altcoin, which has demonstrated exceptional performance over the past year.

Periodic rollbacks do not affect the fundamental indicators of the cryptocurrency in any way, analysts say.

In September, Zeus Capital released a report saying the ChainLink rally was the result of aggressive pumping. The recent rollback allegedly became direct evidence that we saw an ordinary "bubble" that began to deflate. However, subsequent events refuted the point of view of analysts, and the coin started to strengthen its positions again.