Large investors continue to accumulate ChainLink (LINK) crypt currency. The Santiment team has recorded a new surge in the activity of so-called „cryptokits“ that accumulate large volumes of digital currency.
In October, the number of LINK tokens was the highest in 2020 under control of such players. Off-exchange whale wallets now hold 648.6 million coins.
At the same time, the price of ChainLink has risen. Over the past three days, token prices have risen from $9.7 to $12.5. The increase in the value of altokoin was almost 28%.
The lion’s share of the cryptovolta was accumulated by the addresses of ten largest investors. The last time a similar situation was observed on July 1, 2019.
Researchers stress that the ongoing accumulation indicates that the „whales“ are confident in the giant potential of altoin, which over the past year has shown very good results.
Periodic kickbacks do not affect the fundamental performance of the cryptographic currency, analysts say.
In September Zeus Capital published a report stating that the ChainLink rally was the result of aggressive pumping. The recent pullback was supposedly direct proof that we were seeing an ordinary bubble that started to deflate.
However, subsequent events disproved this team’s point of view, and the coin began to strengthen its position again.