A leading crypto analytics firm claims that the blockchain oracle Chainlink (LINK) is the subject of massive interest from deep-pocketed owners of the digital asset.
Santiment says that holders of between 10,000 to 1,000,000 of the Ethereum (ETH)-based altcoin have bought over 47 million more LINK over the course of the 2022 bear market.
According to Santiment, the newly accumulated amount of the 24th-largest crypto asset by market cap is approximately 4.73% of Chainlink’s existing supply.
“Chainlink’s shark and whale addresses (holding 10,000 to one million LINK) have been busy accumulating during the 2022 bear market. Since March 3rd, these addresses have added 47.31 million LINK to their wallets, collectively. This translates to $312.7 million more invested.”
Chainlink is trading at $6.54 at time of writing.
Turning to Litecoin (LTC), Santiment says that the whale transactions and address activity of the 22nd-largest crypto asset by market cap soared this week to an 11-month high.
According to Santiment, Litecoin may have bottomed out against king crypto Bitcoin (BTC).
“Litecoin has been quietly under the radar in 2022, but address activity and whale transactions have exploded this week. Particularly with $1 million+ valued transactions on the network, the timing of these spikes happened just as LTC began rising vs. Bitcoin.”
Litecoin is trading at $51.52 at time of writing, up over 26% from its 2022 low of $40.30.
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The post Crypto Whales Splurge Over $312,000,000 on One Ethereum-Based Altcoin in Massive Accumulation Frenzy: Santiment appeared first on The Daily Hodl.