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Chainlink Whales Own Nearly 25% of $LINK’s Supply After Months Accumulating

Chainlink Whales Own Nearly 25% of $LINK’s Supply After Months Accumulating


Whales within the decentralized oracle network Chainlink have been steadily accumulating LINK tokens over the last few months, to the point they now own up to a quarter of the cryptocurrency’s supply.

According to data shared by crypto analytics firm Santiment, Chainlink millionaire addresses, holding between 100,000 to 10 million LINK tokens, have been accumulating for months to now hold the largest amount they have held in the cryptocurrency’s history.

The 175-year-olçd news agency Associated Press (AP) has earlier today revealed it will provide economic, sports and elections data to Chainlink through a new partnership. The move will both improve how data sources value smart contracts and what smart contracts can achieve using AP data.

According to Sergey Nazarov, co-founder of Chainlink, the network’s oracles can bring new data onto blockchains at the rate developers can build interest applications for users, so AP’s signed data can see developers create decentralized finance applications and smart contracts associated with a “wide array of previously inaccessible topics.”




The move saw the price of LINK surge and move out of a trading range it had seemingly been stuck on. Over the last 12 months, LINK is up over 140%.

LINKUSD Chart via TradingView

Earlier this year, as CryptoGlobe reported, crypto analyst/influencer Elliot Wainman, the owner/host of YouTube channel “EllioTrades Crypto”, told his over 300K subscribers that — according to his technical analysis — Chainlink seems set to go much higher against Bitcoin, which could lead to “an explosion of the oracle coins.”

DISCLAIMER
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

IMAGE CREDIT
Featured image via Pixabay



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