A leading analytics firm says that deep-pocketed crypto investors are rapidly loading up on two tokens issued on the Ethereum (ETH) blockchain.
Santiment says that crypto whales are gobbling up Kyber Network (KNC), a blockchain-based exchange that aims to aggregate liquidity and facilitate instant swaps between ERC-20 tokens, all without the involvement of any middlemen.
According to the intelligence firm, whales continued to accumulate KNC despite its sustained downtrend that saw the token lose over 40% of its value in less than three months.
“Kyber Network whales have accumulated rapidly over the past three months, with key wallets holding one million to 10 million KNC adding 20% of the supply to their holdings since July 31st. The last time this kind of accumulation was seen, KNC grew +67% in six months.”
At time of writing, KNC is swapping hands for $0.876, up over 4% in the last 24 hours.
Santiment also says that deep-pocketed investors are getting their hands on decentralized oracle network Chainlink (LINK). According to the analytics firm, the number of whales holding LINK is currently at a five-year high.
“Chainlink is seeing its number of whale addresses continue rising as prices touched above $7.00 Sunday. The amount of addresses holding $700,000 or more sits at 458 addresses. This is the most since 2017, its opening year of public trading.”
At time of writing, LINK is valued at $7.07, a 2.35% increase on the day.
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The post Crypto Whales Are Rapidly Accumulating Two Ethereum-Based Altcoins, According to Analytics Firm Santiment appeared first on The Daily Hodl.