Chainlink’s (LINK) top 100 whales continue to accumulate on cryptocurrency exchanges. LINK whales are collecting more and more cryptocurrencies on exchanges.
According to the crypto data platform Santiment, the amount of LINK kept by the top 100 whales at their non-exchange wallet addresses has increased by about 5% year over year. This increased the value of LINK kept at these addresses from 735.64 million a year ago to its current value of 771.15 million.
LINK buildup by giant whales has seen a steady increase last year. This increase preceded LINK’s impressive price performance this year, from under $ 2 to almost $ 20 in August.
They are Sure of LINK’s Longevity
Chainlink was founded in 2017 and has been rising and gaining attention ever since, following a successful ICO. However, it drew attention when it jumped from the top 30 cryptocurrencies to the top 10 cryptocurrencies in 2020. The asset ranks 7th among more than 7,000 cryptocurrencies in existence right now. Santiment says the 5% increase in savings shows whales are confident the cryptocurrency will develop well in the future.
Chainlink’s Oracle protocol aims to combine smart contracts with real-life data to help bring real-life applications to smart contracts. The team recently announced that Solana has accepted grant applications for integration with the protocol. It has also recently launched another grant program to support developers with innovative ideas to further develop the network. With such programs implemented, LINK could have a brighter future, as many analysts have said.
Will LINK be $ 32?
Chainlink, like other top cryptocurrencies, has been in consolidation for some time before the news of Square’s Bitcoin investment boosted the market and raised the price to over $ 10. The price reached this level for the first time since September 29.
It is not known whether LINK’s price will continue to rise in the short term, but analysts believe it could reach $ 32 by the end of the year. According to CoinMarketCap data, LINK was trading at $ 11.40 at the time of writing.